Unicorn startup DealShare shuts B2B business and lays off employees

Unicorn startup DealShare has decided to cease its business-to-business (B2B) operations and focus solely on its business-to-consumer (B2C) services

This strategic shift has resulted in layoffs of 130 employees as the company realigns its focus and resources

DealShare is transitioning to an integrated online and offline model, relocating its headquarters and narrowing its operational focus to key markets

Despite facing losses of Rs 431 crore in the financial year ending 2022, DealShare continues to attract significant investments, having raised close to $130 million in its Series E funding round in January last year

DealShare primarily targets middle- and lower-income groups in tier II cities and beyond, offering a variety of essential products through a community group buying model on its app.