DealShare, a prominent social e-commerce platform, has announced a significant leadership transition. Sourjyendu Medda, one of the company’s co-founders, will be stepping down from his position. In his place, Kamaldeep Singh has been appointed as the new Chief Executive Officer (CEO).
This transition marks the exit of the third co-founder from the firm, with only Rajat Shikhar retaining his position. Vineet Rao, Sourjyendu Medda, and Sankar Bora are the other co-founders.
According to a statement released by DealShare, this change in leadership is not expected to impact the company’s operations, headcount, strategy, or its vision of becoming a leader in the grocery and consumables market, focusing on India’s rapidly growing mass market consumption. Sourjyendu Medda will continue to be a key shareholder in the company.
DealShare is currently in the process of transitioning from an online-only model to a hybrid model that integrates both online and offline operations, with a strong emphasis on offline retail.
Kamaldeep Singh, who joined DealShare as the President of its retail business in December 2022, brings with him over two decades of experience in retail and FMCG segments. Before joining DealShare, he held various senior leadership positions and served as the Chief Executive at Big Bazaar.
This appointment follows a six-month exhaustive selection process conducted by a leading global executive search and leadership consulting firm. The company considered both internal and external candidates for the role before selecting Kamaldeep Singh as the new CEO.
Vineet Rao, the outgoing CEO, has also launched two other startups in the areas of virtual reality and cross-border e-commerce – SpectraVR Studios Pvt Ltd and Shopwest, respectively.
DealShare, owned and operated by Merabo Labs Pvt Ltd, is based in Jaipur. The company procures products from local manufacturers and provides them with a platform to digitize their businesses. In response to margin challenges, DealShare has expanded its product offerings beyond staples to include personal care, FMCG, food, general merchandise, and home care products, aiming to broaden its customer base.
