wordpress blog stats
Connect with us

Hi, what are you looking for?

Dealsandyou Not Raising Fresh Funding Yet; Gaurav Kachru Joins As CEO

Following reports (check here and here), citing highly placed sources and insiders, suggesting that Dealsandyou.com is raising a fresh round of funding, and that co-founder Guneet Singh’s stake is being bought by unnamed global investors,  we contacted Harish Bahl, Founder at Smile Interactive Technology Group (SITG) for a clarification. SITG had, in collaboration with Group Deals Global AG (GDG), bought Wanamo.com earlier this year, and relaunched it as Dealsandyou.com. Bahl said that the reports on the fresh round of funding are factually incorrect, and he has no idea where the valuation figure of Rs. 40 crore has come from.

“We are well funded at the moment, and while we’re always open to conversations, we’re not looking for funding at this stage. GDG has just invested in the company,” he said. Post acquisition of Dealsandyou, they had brought in Guneet Singh and Tarun Sobhani as co-founders and directors. However, there has been some restructuring at the company, which currently operates in 4 cities, and has plans to expand to 7 cities by next month. Gaurav Kachru, previously EVP (New Businesses and Corporate Development) at SITG, who had overseen the setup of DealsAndYou alongwith Bahl, has taken on the role of CEO at Dealsandyou. Bahl confirmed that Guneet Singh has left the company, “for his own reasons”, and that SITG has bought back his stake. “It has not been bought by any foreign investor,” he added.

Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Releasing the policy is akin to putting the proverbial 'cart before the horse'.

News

The industry's growth is being weighed down by taxation and legal uncertainty.

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

News

This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ