Dealshare cuts jobs, shuts business-to-business vertical and shifts headquarter

Ecommerce platform Dealshare has reportedly cut jobs. According to a report in the Economic Times, the company has laid off about 130 employees as it shut its business to business (B2B) vertical. Dealshare has also shifted its headquarters from Bengaluru to Gurugram. The job cuts come roughly one-and-a-half months after CEO Vineet Raostepped down. After Rao ‘stepped down’, the company had said in a statement that it will find a new chief executive.The company had hired formerBig Bazaar chief executive Kamaldeep Singh as president of its retail business in December. Later, it also hired Rajesh Purohit, former senior executive at SPAR Hypermarkets India.
Most of those who lost their jobs are reportedly from the B2B business. Also included are some who chose not to move to the new headquarters. The B2B arm brought in 20% to 30% of Dealshare’s total revenues. The company had about 1,000 to 1,100 people on its rolls before the layoffs. This is the second round of job cuts at the ecommerce platform. In January, the company laid off around 100 employees. Since then, Dealshare has scaled down operations significantly.

Dealshare operations are spread across 100 towns, with a third of its business coming from the National Capital Region (NCR), and Rajasthan accounting for another 33%.

Management speak
“Our immediate priorities will be to quickly organise the teams towards execution, complete the non-tech teams’ transition to Gurugram, prioritise key deliverables and swing into action. As a result of this re-organisation some of our colleagues will be leaving us,” a spokesperson said. “As a result of this reorganisation, some of our colleagues will be leaving us. The company will do everything in its capacity to support them through this transition, both financially and (by) leveraging networks to provide for a soft landing.”
Dealshare has raised $393 million so far from investors such as WestBridge Capital, Matrix Partners and Alpha Wave Global.