Liquidity Events
E-commerce platform Dealshare on the block: report
Bengaluru-based e-commerce platform Dealshare is evaluating potential acquisition offers from the online pharmacy TrueMeds and the meat and seafood e-retailer Captain Fresh.Should these negotiations fail to materialise, the company is expected to wind down its operations, as the company's business scale has contracted significantly following years of declining revenue.Founded as an e-commerce platform focused on groceries and household essentials, Dealshare attained unicorn status in January 2022. The company has raised USD 393-M from Tiger Global, Alpha Wave, ADIA, and Kora Investment. However, the firm has faced multiple challenges in recent years, leading to the closure of its B2B (business-to-business) vertical, significant layoffs, and the departure of its senior management and co-founders.Early backer Z47 (formerly Matrix Partners India) is known to have written off its investment in the company. Common investor links exist between the potential acquirers and Dealshare, with WestBridge Capital investing in both Dealshare and TrueMeds, and Z47 maintaining ties to both Dealshare and Captain Fresh.
Between Jan 2019 and Feb 2022, DealShare had attracted about $ 387 M from Alpha Wave Global, Omidyar Network, Whiteboard Capital, Z47, WestBridge, ADIA, Others.For FY25, DealShare had reported about INR 432 Cr in Operating Income and about INR 89 Cr in Net Loss.
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