Dealshare cofounders Vineet Rao, Sankar Bora exit post rejig

economictimes.indiatimes.com:

cofounders of ecommerce platform Dealshare, have left the firm which has seen multiple rounds of job cuts and a business restructuring this year, people in the know told ET.

While Rao “stepped down” from his role of chief executive in July and was supposed to work with the board for hiring a new CEO, he has now left Dealshare even as the company has yet to name his successor, several people aware of the matter said. Bora, who was chief operating officer, has also moved on from the company which is now shifting its non-tech functions to Gurgaon.

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Dealshare was started by Rao, Bora, Sourjyendu Medda and Rajat Shikhar in 2018 and counts Tiger Global and Alpha Wave among its investors. It has raised $393 million so far from investors, including $45 million at a $1.7 billion valuation in February 2022, according to data from Tracxn.

“Vineet and Sankar both have left the firm. Board is independently searching for the new CEO and the same may be finalised before the year end,” a person aware of the matter said.

An email sent to Dealshare did not elicit any response till press time Thursday.


Medda and Shikhar still continue to operate inside the firm along with senior executives like former Big Bazaar chief executive Kamaldeep Singh, who was hired as president of retail business, and Rajesh Purohit, formerly at SPAR Hypermarkets India, who is now senior vice president of retail at Dealshare.

While Rao held a 11.7% stake in the firm as of March 2022, Bora