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DealShare Reinvents Leadership: Kamaldeep Singh Takes the Helm Amidst Strategic Shifts and Hybrid Model Adoption

DealShare, an e-commerce platform, has appointed Kamaldeep Singh as its new CEO, filling the position that had been vacant for six months after the departure of Vineet Rao in July of the previous year. Singh, who previously served as the CEO of Big Bazaar and as a senior manager at Reliance Retail, initially joined DealShare in December 2022 as the president of the company's retail business. The move comes as DealShare aims to transition from an online-only model to a hybrid approach that integrates both online and offline operations, with a particular focus on strengthening its presence in offline retail.

DealShare has experienced significant leadership changes recently, with co-founders Shankar Bora and Sourjyendu Medda also leaving the company. Despite these departures, Medda is expected to remain a key shareholder with no anticipated impact on the company's operations, headcount, or strategy. Following Vineet Rao's departure, DealShare made strategic shifts, closing its B2B arm and implementing layoffs, reportedly affecting more than 100 employees. The company's emphasis on the business-to-consumer (B2C) market is evident as it refines its offerings and navigates a changing landscape within the social commerce sector.

DealShare, having achieved unicorn status in January 2022, has raised a total of $393 million and was valued at $1.7 billion during its last funding round in February 2022. The startup's recent focus on B2C offerings and the hybrid model reflects broader industry trends, echoing the strategies of other players such as ShareChat, Dunzo, and Polygon. Despite the organizational changes and strategic shifts, DealShare remains optimistic about its growth, with expectations of concluding the fiscal year with a 20% increase in topline revenue to Rs 2,300 crore (excluding returns and discounts). As the company navigates these changes, the industry will be closely watching DealShare's evolution in the competitive e-commerce landscape.


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