DealShare plans to invest $100 mn for scaling operations by hiring across 5,000 people

DealShare said it is planning to invest USD 100 million to scale its operations and hire 5,000 people across various profiles over the six coming months.

The company announced its formal launch in Delhi-NCR after having recently raised USD 144 million from investors such as Tiger Global, WestBridge Capital, Alpha Wave Incubation and others.

DealShare avails its customers with an array of products, ranging from grocery to essentials that are essential for daily use at highly competitive price points.

DealShare founder and CEO Vineet Rao said that “We plan to invest USD 100 million over the next six months – majorly in rapidly scaling operational capabilities, social virality and gamification led demand generation, AI-driven product and technology capabilities, strengthening sourcing network and aggressive hiring across various functions to scale rapidly.

He added that despite the COVID-19 induced uncertainties and unusual conditions, the company’s customer base has upscaled significantly, and it is currently at a GMV run rate of USD 400 million.

Rao asserted that currently, the company has a presence in almost 900 pin codes across 5 states and over 45 cities. By the end of the year, the company is set to hit a GMV ARR of over USD 1 billion, covering more than 100 cities across 10 states, while the company currently has over 4 million users.

The company is also set to expand its network of warehouses with the addition of 200 new ones by the end of this year. DealShare currently owns 40 warehouses across 45 cities & has a dominating presence in Rajasthan, Gujarat, Maharashtra and Karnataka.

When asked about DealShare’s expansion in Delhi-NCR, Rao notified that the company has onboarded over one million users in four months, and as it amplifies its services across the region, DealShare is confident of covering up to 5 per cent market share in this region in the next one year.

The company recorded a GMV ARR of USD 60 million in Delhi NCR. DealShare has been successfully working with more than 1,000 indigenous brands since its inception.

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