DealShare forays into Maharashtra - Startup Terminal

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Wednesday, December 25, 2019

DealShare forays into Maharashtra


New Delhi, India, December 24, 2019- DealShare, a social e-commerce start-up, today announced their entry into Maharashtra. The foray was marked by DealShare extending its services across North Mumbai.  A group-buying platform that focuses on offering select popular goods at much-bargained prices, DealShare started its services across Thane, Bhandup, Chandivali, Dombivli, Mulund, Powai, Kurla, Palava City, Ghatkopar and Chembur.

Commenting on the entry to Maharashtra, Mr. Vineet Rao, Founder and Chief Executive Officer, Dealshare, said, “We are delighted to announce our foray into Maharashtra with the launch of our services in Mumbai. Our model focuses on providing our customers with top-quality locally manufactured products at the best prices. Mumbai, with its large, dense and highly social population is a strong market for the brand. We expect to see positive synergy and aim to acquire more than 5% of the retail market within the next 3 years. We will also focus on creating a strong and widespread network of micro entrepreneurs across the region to promote a wide range of local businesses. In coming months, we plan to rapidly expand to many cities, towns and villages across Maharashtra.”
Further commenting on the expansion, Mr. Sourjyendu Medda, Founder & Chief Business Officer, DealShare, said, “This is a crucial step for DealShare. In just a year, we have redefined the way consumers shop in our other two markets – Gujarat and Rajasthan. In our oldest city of Jaipur, we have already penetrated to more than 20% households and are moving towards similar penetration levels in all the 20 cities and towns we service.  We are confident we will be able to see a similar adoption in Maharashtra as well. India has a rapid growing internet user base of 493 million and Maharashtra is a crucial contributor to this growth. This will open new avenues and further aid our growth in this market.”

“We run an extremely innovative logistics model of tying up with local entrepreneurs who not only service orders from their locality but also help in customer acquisition and cultivating repeat behavior. We have launched Mumbai with this model from Day 1 and are hopeful of reaching unit level profitability very soon.” added, Mr. Sankar Bora, Founder & Chief Operations Officer

In Mumbai, DealShare will provide its customers access to locally procured indigenous/regional products and brands across 10 categories. Further, to enable easy navigation and selection even for non-English speaking residents, the interface will be available in Hindi, Marathi as well as Gujarati.

Founded in September 2018 DealShare has established itself as a key social e-commerce player, a concept that utilizes e-commerce and social media to help customers to avail noteworthy deals and discounts on their daily-use products. The platform motivates users to buy in groups and also promotes sharing the product offers with friends and family members. This system encourages its users to buy more and earn more incentives while sharing a deal with their acquaintances. A pioneer of e-commerce 2.0, DealShare takes pride in eliminating the language barrier. The app has a simple interface and has the option of choosing between English, Hindi and Gujarati. A fast-growing start-up DealShare had raised $11 million in funding across Seed and Series-A rounds from Matrix Partners India, Falcon Edge Capital, partners of DST Global, Omidyar Network India along with other leading angel investors. DealShare is currently present across 20 cities in Rajasthan and Gujarat and Maharashtra.