Astrology startup AstroTalk hires Damandeep Soni as CBO for its ecommerce business

AstroTalk has hired Damandeep Soni as its chief business officer (CBO) for its e-commerce venture, months after he stepped down from his role as president and CBO at GlobalBees, according to media reports.

The move is part of AstroTalk’s effort to expand its online store for spiritual and astrology-based products.

The Noida-based startup claims to have built a strong presence in the astrology consultation market, and now aims to reach more consumers through a growing e-commerce platform.

Building an e-commerce and D2C presence

Founded in 2017 by Puneet Gupta and Anmol Jain, Astrotalk is a globally managed marketplace that connects consumers to astrologers for horoscope readings, birth chart analysis, live prayers and more.

Soni will lead AstroTalk's e-commerce and direct-to-consumer (D2C) business. Last year, the startup launched Astrotalk Store and currently sells gemstones, healing stones, and accessories like bracelets.

“We are thrilled to welcome Damandeep Singh Soni as the head of our ecommerce vertical. After building a Rs 1,400+ crore ARR business in astrology consultations, our customers expressed a growing need for a trusted source for all their spiritual product purchases. With Daman’s extensive experience in scaling ecommerce businesses, we are confident and bullish about transforming this vertical into another Rs 1,000 crore ARR business in the coming years,” said Anmol Jain.

Previous experience at Globalbees

During his tenure at GlobalBees, Soni played a key role in growing the firm’s business and marketing efforts, helping it achieve unicorn status. He was also vice president of growth at boAt and held positions at WeCash, Milkbasket and MobiKwik.

Soni’s experience in scaling e-commerce brands and steering marketing strategies is one reason AstroTalk’s leadership expects rapid growth from its online store.

Financial performance and future plans 

AstroTalk, which is planning an initial public offering in the next year or two, has reported strong numbers for fiscal 2024. Its revenue rose to Rs 651.12 crore from Rs 283.32 crore in the previous fiscal, while profit jumped to Rs 99.99 crore from Rs 8.4 crore.

The startup expects to nearly double its revenue to Rs 1,250 crore in fiscal 2025 and is targeting an operating profit of Rs 230 crore to Rs 250 crore.