Jump to content

User:Trinityfire/sandbox

From Wikipedia, the free encyclopedia
< User:Trinityfire
This is an old revision of this page, as edited by Trinityfire (talk | contribs) at 04:39, 4 April 2020 (←Created page with '{{User sandbox}} <!-- EDIT BELOW THIS LINE --> {{Infobox website | name = Fynd | logo = Fynd Logo.png | logo_size = 200px | type = E-commerce | company_type...'). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.
(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)
Fynd
File:Fynd Logo.png
Type of businessPrivate
Type of site
E-commerce
HeadquartersMumbai, India
Area servedIndia
Founder(s)Farooq Adam
Harsh Shah
Sreeraman Mohan Girija
URLFynd
CommercialYes
LaunchedSeptember 27, 2012
Current statusActive

Shopsense Retail Technology Private Limited, d/b/a Fynd is an Indian e-commerce company headquartered in Mumbai, Maharashtra, India. It provides an omnichannel, online-to-offline platform to fashion retailers, by sourcing products and getting their entire inventory on its online marketplace.[1][2]

In August 2019, Reliance Industries Limited (RIL) acquired an 87.6% stake in Fynd for $42.33 million.[3][4]

History

Fynd was established on September 27, 2012 by Farooq Adam, Harsh Shah and Sreeraman MG who were all alumni of IIT Bombay.[5] Fynd (registered as Shopsense Retail Technology Pvt. Ltd.) sold lifestyle products from branded stores.[6] It built a technology platform for merchants to manage their sales across multiple sales channels including major e-commerce platforms.[7] The company claims to operate pan-India and does not own any warehouse or logistics unit.[8] The company helps offline retailers directly sell their products to consumers through their online store.[9]

Till date, more than 600 fashion brands and 9,000 stores are connected through Fynd’s platform across India.[10]

Products and Services

In 2015, Fynd released its official Android and iOS applications and began fulfilling orders from fashion stores.[11]

In 2016, the company launched an omnichannel in-store product, to connect online and offline retail.[12]

In 2019, the company launched a direct-to-retail (B2B2C) application which allowed shopkeepers in Tier 2 and Tier 3 cities to expand their online business.[13] In the same year, Fynd launched an AI-based tool for searching visually similar products.[14]

Funding

In January 2017, Fynd raised an undisclosed amount of funding in pre-series A, from Anand Chandrasekaran, former Chief Product Officer of Snapdeal.[15] Further, the company raised $3.4 million (around Rs 21 crore) from IIFL Seed Ventures, Venture Catalyst and others in June 2017.[16]

In March 2018, Fynd raised an undisclosed amount of funding in its Series C round led by Google among other participants.[17]

In August 2019, Reliance Industries Limited acquired an 87.6% stake in Fynd for 295 crores.and has an option to further invest up to ₹100 crores by December 2021.[18][19]

Official Website

Ecommerce Platform

References

  1. ^ "Fynd: Helping people find offline brands online". The Financial Express. 2019-11-04. Retrieved 2020-03-18.
  2. ^ Kalpathi, Subramanian S. (2016-09-15). The Millennials: Exploring the World of the Largest Living Generation. Random House India. ISBN 978-93-86057-94-5.
  3. ^ "India's Reliance to buy majority stake in Google-backed Fynd for $42.3M". TechCrunch. Retrieved 2020-03-18.
  4. ^ Jabri, Parvez (2019-08-03). "India's Reliance to buy 87.6pc stake in Fynd". Business Recorder. Retrieved 2020-03-18.
  5. ^ "SHOPSENSE RETAIL TECHNOLOGIES PRIVATE LIMITED - Company, directors and contact details | Zauba Corp". www.zaubacorp.com. Retrieved 2020-03-18.
  6. ^ "Bloomberg - Are you a robot?". www.bloomberg.com. Retrieved 2020-03-18. {{cite web}}: Cite uses generic title (help)
  7. ^ "Mergers and acquisitions: Reliance Industries to buy 87.6% stake in software tech firm Fynd for Rs 295 cr". Firstpost. Retrieved 2020-03-18.
  8. ^ "Fynd: Inside the O2O platform's diversification plans". SmartCEO. 2018-09-20. Retrieved 2020-03-18.
  9. ^ Majumdar, Romita (2018-04-08). "Fynd helps fashion brands, stores find balance between offline and online". Business Standard India. Retrieved 2020-03-18.
  10. ^ "Making it big in the e-commerce platform". The New Indian Express. Retrieved 2020-03-18.
  11. ^ "Accelerating mCommerce Growth through Mobile Insights | AppsFlyer (Portuguese)". www.appsflyer.com. Retrieved 2020-03-18.
  12. ^ "Fashion portal Fynd launches omni-channel in-store product 'Fynd Store'". Techcircle. 2016-12-14. Retrieved 2020-03-18.
  13. ^ "Reliance backed Fynd launches retail solution for shopkeepers to sell online with their own website and app". Business Insider. Retrieved 2020-03-18.
  14. ^ Jan 7, Aparna Desikan | TNN |; 2020; Ist, 20:47. "Fashion ecommerce platform Fynd launches AI-powered visual search tool - Times of India". The Times of India. Retrieved 2020-03-18. {{cite web}}: |last2= has numeric name (help)CS1 maint: numeric names: authors list (link)
  15. ^ "Fynd secures funding from FB executive Anand Chandrasekaran". Moneycontrol. Retrieved 2020-03-18.
  16. ^ "Fynd raises $3.4 mn from IIFL Seed Ventures, others". Moneycontrol. Retrieved 2020-03-18.
  17. ^ Ali, Shamshad (2018-03-29). "Mumbai-based Fynd secures Series C funding round from Google". Entrackr. Retrieved 2020-03-18.
  18. ^ "Reliance to invest $42.3 million in Indian e-commerce platform Fynd". The Tech Portal. 2019-08-06. Retrieved 2020-03-19.
  19. ^ "Ambani's Reliance to buy majority stake in Google-backed Fynd". The Economic Times. 2019-08-05. Retrieved 2020-03-18.
Retrieved from "https://en.wikipedia.org/w/index.php?title=User:Trinityfire/sandbox&oldid=949005191"