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Fynd
File:Fynd Organization 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. The company was started by Farooq Adam, Harsh Shah and Sreeraman MG in September 2012.[1]

History

Fynd was established on September 27, 2012 by Farooq Adam, Harsh Shah and Sreeraman MG who were all alumni of IIT Bombay.[2] Fynd (registered as Shopsense Retail Technology Pvt. Ltd.) had started off as an analytics company for customer engagement in 2012.[3] sold lifestyle products from branded stores.[4] It built a technology platform for merchants to manage their sales across multiple sales channels including major e-commerce platforms.[5] The company claims to operate pan-India and does not own any warehouse or logistics unit.[6]

In August 2019, Reliance Industries Limited (RIL) acquired an 87.6% stake in Fynd for $42.33 million.[7][8]

Funding

In January 2017, Fynd raised an undisclosed amount of funding in pre-series A, from Anand Chandrasekaran, former Chief Product Officer of Snapdeal.[9] Further, the company raised $3.4 million (around Rs 21 crore) from IIFL Seed Ventures, Venture Catalyst and others in June 2017.[10]

In March 2018, Fynd raised an undisclosed amount of funding in its Series C round led by Google among other participants.[11]

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.[12]

See also

References

Official Website

  1. ^ "Making it big in the e-commerce platform". The New Indian Express. Retrieved 2020-04-13.
  2. ^ "SHOPSENSE RETAIL TECHNOLOGIES PRIVATE LIMITED - Company, directors and contact details | Zauba Corp". www.zaubacorp.com. Retrieved 2020-03-18.
  3. ^ "Fynd: Helping people find offline brands online". The Financial Express. 2019-11-04. Retrieved 2020-03-18.
  4. ^ "Bloomberg - Are you a robot?". www.bloomberg.com. Retrieved 2020-03-18. {{cite web}}: Cite uses generic title (help)
  5. ^ "Mergers and acquisitions: Reliance Industries to buy 87.6% stake in software tech firm Fynd for Rs 295 cr". Firstpost. Retrieved 2020-03-18.
  6. ^ "Fynd: Inside the O2O platform's diversification plans". SmartCEO. 2018-09-20. Retrieved 2020-03-18.
  7. ^ "India's Reliance to buy majority stake in Google-backed Fynd for $42.3M". TechCrunch. Retrieved 2020-03-18.
  8. ^ Jabri, Parvez (2019-08-03). "India's Reliance to buy 87.6pc stake in Fynd". Business Recorder. Retrieved 2020-03-18.
  9. ^ "Fynd secures funding from FB executive Anand Chandrasekaran". Moneycontrol. Retrieved 2020-03-18.
  10. ^ "Fynd raises $3.4 mn from IIFL Seed Ventures, others". Moneycontrol. Retrieved 2020-03-18.
  11. ^ Ali, Shamshad (2018-03-29). "Mumbai-based Fynd secures Series C funding round from Google". Entrackr. Retrieved 2020-03-18.
  12. ^ "Ambani's Reliance to buy majority stake in Google-backed Fynd". The Economic Times. 2019-08-05. Retrieved 2020-03-18.
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