This news comes on the heels of its Series E round. It plans to use the funding to drive expansion across India. Here are the top-line bullets you need to know.
DealShare, a social commerce and group buying platform, has raised $130M in a Series E. The round drew participation from Alpha Wave Global, Dragoneer Investment Group, and Tiger Global Management, among others.
How’s the company performing?
- India-based DealShare offers locally sourced essentials, like groceries, beauty and wellness products, and home goods, to middle-income consumers.
- The company has a presence in 100 cities across 10 states in India.
- DealShare reported that its gross revenue run rate rose to around $700M in 2021.
- Its revenue and customer base reportedly grew by 13x in 2021.
- DealShare expects that its annual revenue run rate will hit $3B in 2022, and it also plans to expand to 200 cities across 20 states.
Source: DealShare
Why does the market matter?
- The global social commerce market is expected to reach a value of $2.9T by 2026, growing at a CAGR of 30.8%, according to Global Industry Analysts.
- The increasing usage of social media platforms by consumers, particularly amid Covid-19, has convinced businesses to sell their products through such mediums.
- The rising adoption of mobile technologies has also contributed to market growth.
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