DealShare Hunts For One Last Deal, Will It Find Any Takers?
“DealShare is today an empty vessel with $90 Mn in cash.” That’s how an investor who is aware of the…
DealShare, once a unicorn startup valued at $1.7 billion, is now seeking a buyer amid talks for a potential acquisition at a significant discount. The company, which once aimed to be an ecommerce and supply chain destination for consumers in Tier II, Tier III and beyond, struggled to gain traction after raising $165 million in funding.
In August 2023, DealShare exited the B2B vertical and focused solely on B2C ecommerce operations. Despite raising over $200 million in the previous year, the company's net loss reached ₹500 crore in FY23 against a revenue of ₹1,963.5 crore. The company's new leadership, Kamaldeep Singh, previously a Big Bazaar executive, implemented a new strategy to return to B2C value commerce with a two-hour delivery model.
DealShare currently operates 40 dark stores and processes around 25,000-30,000 orders daily in cities like Jaipur, Ghaziabad, Lucknow, and Kolkata. Despite the shift to offline operations, the company is still exploring different models, including an offline-only setup, retaining online operations, or an omnichannel approach. The fate of the approximately $90 million remaining on DealShare's balance sheet remains uncertain.
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