DealShareis looking to hire up to 1,500 technology and product employees to grow its workforce to 3,500.
- The four year old
social commercethe startup plans to expand its business 3x and enter 100 more cities this fiscal year.
- It serves more than 3 lakh orders per day across 1,000 PINs spread across 150 cities in 10 states.
Grocery-focused social commerce startup DealShare is looking to hire up to 1,500 technology and product employees to grow its workforce to 3,500 by the end of this fiscal year. The company has already doubled its workforce to 2,000 since last year, Vineet Rao, founder and CEO of DealShare, told Business Insider.
The hiring outlook is part of DealShare’s plans to further strengthen its business this quarter by focusing on filling gaps in the business to create a stronger offering. Simultaneously, the company plans to triple its business and enter 100 more cities this fiscal year (FY 22-23).
“Because we’ve grown so fast, there have been many, many issues that have crept in as well. In some places my assortment isn’t perfect as it should be, people don’t find everything they should find in DealShare, in some places the prices and promotions are not correct, in some places the inventory is not available as much as it should be,” Rao told Business Insider.
DealShare serves over 3 lakh orders per day across 1,000 PINs spread across 150 cities in 10 states. The company estimates that even with the expansion to 250 cities, much of its traffic would come from its existing 150 cities instead of the newly added 100 cities.
The company also claims to have crossed $1 billion in gross revenue last month.
DealShare has raised $393 million to date since its inception in 2018. The company was founded by Vineet Rao, Sourjyendu Medda, Sankar Bora and Rajat Shikar. It mainly focuses on selling groceries and household essentials through social media and messaging platforms like WhatsApp.
The Jaipur-based company entered the unicorn club earlier this year, having been valued at $1.7 billion. DealShare competes with other social commerce platforms like CityMall and BulBul, among others.
Beyond hiring, Dealshare also has plans for inorganic growth
The company is also looking to strengthen its business by acquiring 5 to 10 small brands, with their own manufacturing units, with the aim of expanding its offer. Rao stressed that they would primarily seek to acquire fast-moving consumer goods (FMCG) and core businesses, but would also look into essential fashion.
The four-year-old startup has yet to decide on an average ticket size, as the size of the deal would depend on the acquired company. Rao noted that the transaction could go down to ₹25 crore. The company is currently exploring debt options to finance these acquisitions.
On the other hand, DealShare also claims to be always on the lookout for companies that can further expand its operations, such as logistics or technology.
The Jaipur-based startup claims to have over 1,000 micro-entrepreneur partners registered on the platform, who help sell products online. The company aims to increase that number to 5,000 by the end of the year, COO and founder of DealShare Sankar Bora previously said.
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