wordpress blog stats
Connect with us

Hi, what are you looking for?

Yebhi Co-Founders Nitin Agarwal And Rajul Jain Leave Company

Two major resignations at fashion and lifestyle portal Yebhi: two of the company’s co-founders have left the company, NextBigWhat reported. Nitin Agarwal, co-founder and a director on Yebhi’s board resigned from the company on January 25 as per filings BigShoeBazaar India made with the registrar of companies, retrieved by MediaNama, and Amarpreet Singh Sohal has been made Additional Director. Yebhi Co-founder and head of operations Rahul Jain has also put in his papers. Yebhi CEO Manmohan Agarwal told MediaNama that they’ve left to start their own own ventures.

This follows the resignation of board members Raul Rai, MD of FGPI and Suvir Sujan co-founder of Nexus Venture Partners in September 2013, which MediaNama had reported. Earlier, Manmohan Agarwal had told us that FGPI and Nexus had not written off investments and that they could still appoint someone to the board seats if they wanted. He had also said that the company has other investors such as Catamaran Ventures and Qualcomm.

Manmohan had earlier told us that the company plans to raise $30 million but, he told NextBigWhat that the company has no plans to raise funding. “While all the other companies are busy burning capital for top line growth, we just want to create profitability first and break-even. We are not planning on raising further rounds of investment,” he said.

In a call to Medianama, he confirmed the rumours of layoffs in the company and said that they were part of cost restructuring that has been going on at Yebhi. He refused to specify exactly how many people were let go, but said that the company has improved efficiency at various levels.

Financial position

Advertisement. Scroll to continue reading.

BigShoeBazaar had registered a loss of Rs 65.63 crore at the end of FY-13 up from a loss of Rs 47.16 crore at the end of FY-12, on revenues of Rs 88.62 crore in FY-13, up from Rs 47.1 crore in FY-12. Agarwal however said that the company has GMV of Rs 250 crore. In late 2013, Agarwal said, the company has brought down its cash burn to around half from last year, and “we are still sustaining our business,” Agarwal said, also suggesting that Yebhi has a cash burn of one-tenth or one-twentieth the cash burn of other e-commerce players.

Written By

I'm passionate about technology and gaming. You can follow me <a>@chupchap</a>

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



Find out how people’s health data is understood to have value and who can benefit from that value.


The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.


When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.


The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

You May Also Like


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...


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...


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...


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
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