Danish Ahmed, co-founder CEO of fashion and lifestyle aggregator Yebhi.com, has quit the company to start his own venture called Shopsity Tech Pvt Ltd, which will provide information on fashion products being sold in the users’ vicinity through an app, reports TechCircle.
Speaking to the publication, Ahmed said that Shopsity will allow users to see what is selling in stores nearby and allows them to choose the designs of their choice, check out the latest offers, and make a shopping list and then go out to try the product and purchase it. Shopsity already has an Android application and according to the description page it allows users to find over 5,000 stores across Delhi, Bangalore, Pune, Hyderabad, Gurgaon, Mumbai, Chennai, Noida, Calcutta, Lucknow, Chandigarh, Ahmedabad.
Earlier top level exits and woes
Earlier last year, Yebhi’s other co-founders Nitin Agarwal and Rajul Jain exited the company. According to their LinkedIn profiles, Rajul Jain has since joined Myntra as a senor vice president for supply chain management and Nitin Agarwal is serving as a director at Equirus Capital.
In 2013, Raul Rai, MD of FGPI and Suvir Sujan co-founder of Nexus Venture Partners quit Yebhi’s board of directors to start their own ventures. At the same time the company dropped plans to raise any further investment in a bid to “create profitability first and break-even”. It was also undergoing a cost restructuring which had led to employee layoffs.
Yebhi also had partnered with IRCTC in 2013 to manage its ecommerce platform. Yebhi was responsible for managing everything from customer experience from the website user interface to the final delivery of the product to the customer. The deal fell through in August 2014 as IRCTC silently shut down its e-commerce platform.
Started in 2009 and run by Gurgaon-based Big Shoe Bazaar India Pvt Ltd, Yebhi had started as BigShoeBazaar before it became a horizontal e-commerce merchant dealing in categories such as apparels, accessories, home furnishings, toys, electronics and online mobile recharge. In September 2014, Yebhi.com pivoted its business model from that of an ecommerce portal to an aggregator of products from other e-commerce platforms, like Myntra, Jabong, and Flipkart among others.