User:Trinityfire/sandbox
| File:Fynd Logo.png | |
| Type of business | Private |
|---|---|
Type of site | E-commerce |
| Headquarters | Mumbai, India |
| Area served | India |
| Founder(s) | Farooq Adam Harsh Shah Sreeraman Mohan Girija |
| URL | Fynd |
| Commercial | Yes |
| Launched | September 27, 2012 |
| Current status | Active |
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]
Funding
In January 2017, Fynd raised an undisclosed amount of funding in pre-series A, from Anand Chandrasekaran, former Chief Product Officer of Snapdeal.[11] Further, the company raised $3.4 million (around Rs 21 crore) from IIFL Seed Ventures, Venture Catalyst and others in June 2017.[12]
In March 2018, Fynd raised an undisclosed amount of funding in its Series C round led by Google among other participants.[13]
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.[14][15]
External Links
References
- ^ "Fynd: Helping people find offline brands online". The Financial Express. 2019-11-04. Retrieved 2020-03-18.
- ^ 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.
- ^ "India's Reliance to buy majority stake in Google-backed Fynd for $42.3M". TechCrunch. Retrieved 2020-03-18.
- ^ Jabri, Parvez (2019-08-03). "India's Reliance to buy 87.6pc stake in Fynd". Business Recorder. Retrieved 2020-03-18.
- ^ "SHOPSENSE RETAIL TECHNOLOGIES PRIVATE LIMITED - Company, directors and contact details | Zauba Corp". www.zaubacorp.com. Retrieved 2020-03-18.
- ^ "Bloomberg - Are you a robot?". www.bloomberg.com. Retrieved 2020-03-18.
{{cite web}}: Cite uses generic title (help) - ^ "Mergers and acquisitions: Reliance Industries to buy 87.6% stake in software tech firm Fynd for Rs 295 cr". Firstpost. Retrieved 2020-03-18.
- ^ "Fynd: Inside the O2O platform's diversification plans". SmartCEO. 2018-09-20. Retrieved 2020-03-18.
- ^ Majumdar, Romita (2018-04-08). "Fynd helps fashion brands, stores find balance between offline and online". Business Standard India. Retrieved 2020-03-18.
- ^ "Making it big in the e-commerce platform". The New Indian Express. Retrieved 2020-03-18.
- ^ "Fynd secures funding from FB executive Anand Chandrasekaran". Moneycontrol. Retrieved 2020-03-18.
- ^ "Fynd raises $3.4 mn from IIFL Seed Ventures, others". Moneycontrol. Retrieved 2020-03-18.
- ^ Ali, Shamshad (2018-03-29). "Mumbai-based Fynd secures Series C funding round from Google". Entrackr. Retrieved 2020-03-18.
- ^ "Reliance to invest $42.3 million in Indian e-commerce platform Fynd". The Tech Portal. 2019-08-06. Retrieved 2020-03-19.
- ^ "Ambani's Reliance to buy majority stake in Google-backed Fynd". The Economic Times. 2019-08-05. Retrieved 2020-03-18.