DealShare Layoffs
January 2023
DealShare announced a layoff affecting 100 employees (6% of its workforce) in January 2023. The company operates in the Retail sector.
100
6%
Jan 27, 2023
About
DealShare, a Tiger Global-backed e-commerce unicorn in India, laid off approximately 100 employees in January 2023, representing about 6% of its 1,500-strong workforce. This decision was driven by the need to rationalize expenses amid a challenging funding environment and macroeconomic headwinds. The company's annualized revenue rate had fallen by a third to around $600 million from a peak of $900 million, attributed to reduced consumer discretionary spending. As part of its strategy shift, DealShare is pivoting from a group buying model to a social commerce approach, focusing on existing geographies rather than expansion, and has significantly reduced its monthly cash burn.
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