New Delhi, 15th September 2021: Having established as the leading social commerce player across Rajasthan, Gujarat, Maharashtra and Karnataka, DealShare today announced their foray into the Delhi- NCR region. In the first phase, DealShare will be rendering its services to more than 160 pin codes across Delhi, Ghaziabad, Faridabad, Meerut, Noida, and Gurgaon. With this expansion, DealShare will be serving more than 45 cities and 5 states in the country. Launched just 4 months ago they have already onboarded 1 million customers with a GMV ARR of $60mn in Delhi NCR region
The occasion also witnessed DealShare, which had recently raised $144 Million from Tiger Global, WestBridge Capital, Alpha Wave Incubation (a venture fund backed by ADQ, and managed by Falcon Edge Capital), Partners of DST Global, Matrix Partners India, & Z3Partners and Alteria Capital sharing their investment and growth plans for the northern region.
DealShare is a disruptive retail model that offers value-conscious customers with quality products in an engaging and rewarding manner. DealShare provides its customers with a sharp and curated assortment of products, ranging from grocery to essentials that are required for daily use at highly competitive price points.
Elaborating about the market expansion, Mr. Vineet Rao, CEO and Founder, DealShare, said, “Despite the COVID-19 induced harsh conditions, our customer base has grown significantly. We are currently at a GMV run rate of $400M. Our customer base is growing at 50% month-on-month and we are confident that expanding our market presence will help us to further scale our base to 10 million customers by the end of this year. For market expansion, we are earmarking $100 M, and we are aiming to reach 1500 pin codes by the end of 2021.”
“Delhi-NCR is a dynamic market. More than 80% of the population in the city belongs to the low and middle-income category who are value-conscious. Our ethos of offering quality products at competitive price points and our gamified, fun-filled and virality-driven vernacular shopping experience have been well received. I have a very positive feeling about our expansion in NCR as we are one of the fastest e-grocery players and we’ve been doing really good as compared to the existing players who have been in there already. Our goal is to scale up the positive momentum further and look to cover the entire region by the end of this year”,added Mr. Vineet Rao.
At DealShare, the market expansion will also be supported by strengthening of the product portfolio, community leader network and operation efficiency.
Commenting on the product portfolio and operations road map, Mr. Sourjyendu Medda, Founder, Chief Business Officer & Chief Finance Officer, DealShare, said, “We are closely aligned with the ‘Make in India’ mission. Since its inception, DealShare has been working with more than 1000 indigenous brands and have helped many to register significant growth despite the pandemic. In Delhi—NCR currently we are associated with more than 200 manufacturers. The brands have started witnessing 300%-500% growth and in some cases even 1000% growth in their sales. NCR for us has been the largest and the fastest market and we have grown at an unbelievable pace.”
Apart from offering best-in-class products, DealShare has been making its customers’ shopping journey an engaging and rewarding one. It allows its customers to utilize social media platforms to avail noteworthy deals and discounts on their daily-use products while encouraging group buying.
According to Bain & Company’s report on social commerce, the sector in India (in terms of gross merchandise value) is projected to reach US$ 16-20 billion by 2025 and US$ 60-70 billion by 2030. A major driver of this growth would be the low- and middle-income group and the first-time internet users.