DealShare is an Indian e-commerce platform that operates in the social commerce segment. The company was founded in 2018 by Vineet Rao, Sourjyendu Medda, Sankar Bora, and Rajat Shikhar, and is headquartered in Jaipur, Rajasthan.
DealShare’s business model is based on group buying and community-driven selling, where users can avail of discounts on various products by sharing deals with their friends and family members. The platform offers a range of products, including groceries, personal care items, household goods, and fashion items.
DealShare operates on a mobile app-based platform and currently has a presence in over 150 Indian cities, including Jaipur, Ahmedabad, Surat, Baroda, Kota, and Jodhpur claims to have on-boarded over 1,000 local brands and catered to over 20 million (2 crore) customers with its B2B2C platforms. The company has raised multiple rounds of funding from various investors, including Falcon Edge Capital, WestBridge Capital, and Omidyar Network India.
Founding History of DealShare
DealShare was founded in 2018 by a group of four entrepreneurs, Vineet Rao, Sourjyendu Medda, Sankar Bora, and Rajat Shikhar. The founders shared a common vision of creating an e-commerce platform that could address the needs of the Indian middle class, which is a vast and underserved market.
They realized that while India’s middle class was rapidly growing, they were still struggling to access quality products at affordable prices. The founders believed that the key to solving this problem was by creating an e-commerce platform that could leverage the power of social networks and community-driven selling.
With this idea in mind, the founders started building the DealShare platform, which is based on the concept of group buying and community-driven selling. The platform allows users to share deals with their friends and family members, which helps them to avail of discounts on various products.
Since its launch, DealShare has grown rapidly and has become one of the leading players in the Indian social commerce space. The company has raised multiple rounds of funding and has expanded its operations to several cities across India.
How does DealShare work?
DealShare is a social commerce platform that operates on a mobile app-based platform. Here is how the platform works:
Products and Deals: DealShare offers a range of products across categories such as groceries, personal care items, household goods, and fashion items. These products are sourced directly from manufacturers and distributors, which allows the platform to offer them at affordable prices. The platform also offers deals and discounts on these products, which are shared with users via the app.
Community-Driven Selling: DealShare’s business model is based on community-driven selling, which means that users can share deals with their friends and family members via social media platforms such as WhatsApp and Facebook. When someone makes a purchase using a shared deal, the user who shared the deal earns cashback or rewards points.
Group Buying: DealShare also leverages the power of group buying to offer even better discounts to users. When a certain number of users agree to purchase a product together, they can avail of a group discount.
Delivery: DealShare offers doorstep delivery of products to users, which makes the shopping experience convenient and hassle-free. The platform also offers multiple payment options, including cash on delivery and digital payments.
Overall, DealShare’s business model is designed to make shopping more affordable and convenient for Indian consumers, while also providing a platform for users to earn rewards by sharing deals with their network.
How does DealShare make money?
DealShare generates revenue through a few key streams. Here are some of the primary revenue streams for the platform:
Commission on Sales: DealShare earns a commission on every sale that is made through its platform. The commission rates may vary based on the product category, volume of sales, and other factors.
Advertising Revenue: DealShare generates revenue through advertising by charging brands and manufacturers for featuring their products on the platform. This is a particularly effective revenue stream as DealShare has a large user base that is actively engaged with the platform.
Subscription Services: DealShare may also offer subscription-based services in the future, such as premium features for users or premium services for brands and manufacturers.
Logistics Services: DealShare may also generate revenue by offering logistics and fulfillment services to brands and manufacturers. This would allow them to leverage the platform’s delivery infrastructure and reach a larger audience.
Overall, DealShare’s revenue streams are diverse and may evolve as the platform grows and expands into new markets. However, the primary source of revenue for the platform is likely to remain commission on sales and advertising revenue.
DealShare Growth over the years
DealShare has seen significant growth since its launch in 2018. The platform has quickly gained popularity among Indian consumers, particularly in smaller cities and towns where e-commerce penetration is still relatively low.
Here are some key growth metrics for DealShare:
User Base: DealShare has a rapidly growing user base, and the company claims to have on-boarded over 1,000 local brands and catered to over 20 million (2 crore) customers with its B2B2C platforms. The company has also reported strong growth in user engagement, with users spending an average of 10-15 minutes on the app per session.
Expansion: DealShare has expanded its operations to over 150 cities across India, including Jaipur, Ahmedabad, Surat, Baroda, Kota, and Jodhpur. The company plans to further expand its presence in the coming years and aims to reach 500 cities in India by 2025.
Funding: DealShare has raised multiple rounds of funding from prominent investors, including Falcon Edge Capital, WestBridge Capital, and Omidyar Network India. The company has raised over $390 million in funding to date, which is a testament to its growth potential.
Revenue: DealShare has reported strong revenue growth, which has skyrocketed 8.2X to Rs 1,933 crore during the fiscal year ending March 2022 from Rs 237 crore in FY21.
Overall, DealShare’s growth trajectory has been impressive, and the company has established itself as a major player in the Indian social commerce space. With its innovative business model and strong execution, DealShare is well-positioned to continue its growth in the years to come.
DealShare investors and funding rounds
DealShare has raised several rounds of funding since its launch in 2018. Here are the details of the funding rounds:
Series A Funding: In July 2018, DealShare raised $1 million in a Series A funding round led by 1Crowd and several angel investors.
Series B Funding: In September 2019, DealShare raised $11 million in a Series B funding round led by Matrix Partners India and Falcon Edge Capital. The round also saw participation from Omidyar Network India, and several other investors.
Series C Funding: In September 2020, DealShare raised $21 million in a Series C funding round led by WestBridge Capital. The round also saw participation from existing investors, including Matrix Partners India and Omidyar Network India.
Series D Funding: In June 2021, DealShare raised $144 million in a Series D funding round led by Tiger Global Management. The round also saw participation from existing investors, including WestBridge Capital, Matrix Partners India, and Omidyar Network India.
Series E Funding: In Jan 2022, DealShare raised $130 million in a Series E funding round led by Tiger Global Management, Alpha Wave Global (managed by Falcon Edge Capital) and others. The round also saw participation from existing investors, including WestBridge Capital, Matrix Partners India, and Omidyar Network India.
The funding round has valued company to $1.6 billion making its way into the exclusive Unicorn clubs.
Overall, DealShare has raised over $400 million in funding to date, which has helped the company to fuel its growth and expand its operations across India. The company has also attracted some of the top investors in the industry, which is a testament to its potential as a leading player in the social commerce space.
Also Read: Livspace – Success Story, Founders, Business Model, Growth, Revenue & Funding
Future of DealShare – Where DealShare is headed?
The future of DealShare looks bright, as the platform is well-positioned to capitalize on the growing demand for affordable and convenient e-commerce solutions in India. Here are some key factors that could shape the future of DealShare:
Expansion: DealShare has already expanded its operations to several cities across India, and the company aims to reach 500 cities by 2025. This expansion is expected to drive further user growth and revenue growth for the platform.
Innovation: DealShare is known for its innovative business model, which leverages the power of social sharing and group buying to offer affordable prices to consumers. The company is likely to continue to innovate in the future, potentially by introducing new features or services that further enhance the shopping experience for users.
Partnerships: DealShare has already formed partnerships with several leading brands and manufacturers in India, and the company is likely to continue to forge new partnerships in the future. These partnerships could help the platform to expand its product offerings and increase its revenue streams.
Competition: The social commerce space in India is becoming increasingly crowded, with several other platforms vying for market share. DealShare will need to continue to differentiate itself and offer unique value propositions to users in order to stay ahead of the competition.
Overall, the future of DealShare is bright, as the company has already established itself as a major player in the Indian e-commerce space. With continued innovation, expansion, and strategic partnerships, DealShare is well-positioned to continue to grow and capture a larger share of the Indian market.
