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Business News/ Companies / People/  DealShare hires former Big Bazaar CEO Kamaldeep Singh as president, retail biz
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DealShare hires former Big Bazaar CEO Kamaldeep Singh as president, retail biz

DealShare, a Jaipur-based social commerce startup owned and operated by Merabo Labs Pvt Ltd, raised an additional $45 million from Abu Dhabi Investment Authority (ADIA), as an extension of its Series E round, in February this year

DealShare is present in 150 cities across eight states and caters to about 4 lakh orders daily. DealShare procures products from local manufacturers and provides them with a platform to digitize their business.Premium
DealShare is present in 150 cities across eight states and caters to about 4 lakh orders daily. DealShare procures products from local manufacturers and provides them with a platform to digitize their business.

New Delhi: Social e-commerce company DealShare on Wednesday announced the appointment of former Big Bazaar CEO Kamaldeep Singh as its president of retail.

Singh’s deep knowledge of Indian consumer behaviour, building sourcing organization, vast network of brands, and building talent and team fits well for DealShare’s next phase of growth, the company said announcing the appointment.

The move comes after DealShare, a Jaipur-based social commerce startup owned and operated by Merabo Labs Pvt Ltd, raised an additional $45 million from Abu Dhabi Investment Authority (ADIA), as an extension of its Series E round, in February this year.

DealShare is present in 150 cities across eight states and caters to about 4 lakh orders daily. DealShare procures products from local manufacturers and provides them with a platform to digitize their business.

In his prior role, Singh served as the CEO of Big Bazaar, where he was responsible for retail operations, organizational transformation, and business strategy execution.

“We have cut down our monthly burn to less than 50% over the last 4 to 5 months without much impact on our scale. We will continue to focus heavily on profitable growth in future and Kamaldeep’s deep operational experience will help us speed up this journey," Sourjyendu Medda, founder and co-CEO, DealShare, said.

The company has made a few top hires over the last 12 months.

“With a slew of recent top level hires to strengthen our core team over the last one year, Kamaldeep will take our leadership pool a notch higher and support our vision to be India’s largest mass market player for FMCG and grocery retail. We have been growing exponentially over the last 4 years and this growth is a testimony of the high potential of our business model in capturing a large share of mass market retail in India," said Vineet Rao, founder & CEO, DealShare.

With the recent appointment, DealShare moves a step closer to strengthening its presence, especially in tier 2 and tier 3 cities.

“Over 75% of the products are sourced from DealShare’s large MSME network across the country. It has also received an overwhelming response for its recently launched private label brands. DealShare has reached over 2 crore households and fulfills four lakh orders every day across eight states and 150 cities & towns," the company said.

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Published: 14 Dec 2022, 04:20 PM IST
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