Devesh Rai , Founder & CEO, Wydr in conversation with Chahat Jain of BWBusinessworld talks about a first-of-its kind mobile innovative wholesale B2B marketplace designed to make wholesale buying and selling more structured, organized and hassle free.Wydr brings in an innovation led approach to address the highly fragmented wholesale market. It acts as an e-marketplace providing technology stack for real time cataloging, deal discovery, network building, order management & processing, search, cart, work flows, dispute resolution, customer care and logistics.
MUMBAI: Mobile based wholesale B2B platform Wydr that connects retailers with brands and wholesalers, has entered into strategic partnerships with multiple online lending companies such as LendingKart, CapitalFloat, Indifi and Flexiloans.
The partnership that is based on preferential rates offers retailers access to easy and collateral free working capital loan from the lenders with minimum documentation. With the festive season accounting for higher sales, the need for working capital for sellers and buyers on the platform is high.
To address this need and to make credit attractive, Wydr is offering interest-free loans this festive season. When a retailer's collateral free loan gets approved by Wydr's lending partners, the buyer gets WydrCredit to buy goods on the platform. The interest on such loans will be reimbursed to the retailer as WydrCash (the company's loyalty program) until the period of October 31. "We have negotiated preferential rates with all our partners so that they give loans at slightly lower interest rates than the market. We are looking at extending the (interest-free loan) scheme until November-end," said Devesh Rai, Co-founder, Wydr.
The promotional offer is however, only applicable on loans taken from the date of commencement to Diwali 2016. For loans extending beyond November, interest will have to be paid for the period post the offer. The maximum interest rate subsidy will be 1.25% per month.
Rai says the company has begun the process of verification and credit worthiness for demand for loans. "We have already seen demand for loans worth Rs 20 lakhs," he said. Wydr will begin disbursing loans by the end of the first week of October.
Mumbai, September 14: The aim was to cast the net wider and address the major pain points prevalent in the fragmented B2B (business to business) sector. For Devesh Rai, Founder and CEO at Wydr, a wholesale marketplace, venturing out from a cushy corporate job to tackle the malaise in the industry was a no-brainer.
The idea to bring brands, wholesalers, importers and retailers on a single platform and aggregate the unorganised and fragmented wholesale market was born when Rai realised the many fissures plaguing the B2B market. Though he continued in the corporate world for several years, the entrepreneurial streak refused to die down.
Retailer Media caught up with Devesh Rai, CEO & Founder of Wydr, a mobile-based marketplace platform for wholesale buying and selling. In this conversation he spoke about how his venture is making wholesale buying and selling more organised, hassle-free, quicker and easier.
"I was not getting any younger," says the 40-year-old Rai, who had spent most of his career in advertising, then marketing and brand management, then in an IT services company. It was while dealing with several brands and wholesalers during his past stints that he identified several gaps in the business of bulk buying and selling.
The idea also hit home when he was with ShopClues, an online shopping marketplace. " I was the founding-member, and Vice- President for Business Development at ShopClues. I had been working for 12 years prior to that and decided it was high time I chased my dream," he said.
Entrepreneurship was a childhood dream for this economics graduate from Delhi University and MBA from the Indian Institute of Management (IIM), Calcutta. "Entrepreneurship is about first believing in something and making things happen. It was a tough decision, since I was giving up a good career and a good corporate salary," says Devesh, adding the resolve brought along its own set of problems.
"From extreme ecstasy to extreme despair, being an entrepreneur comes with a lot of challenges. Though I was working on some ideas of my own, when I met up with some of my friends from the US, I realised their thoughts on the market place were similar to mine," said Devesh, speaking about Wydr's five co-founders. Initially, all worked out of their homes. "In February 2012, Series A funding with Nexus came through. By that time, ShopClues had become quite big. It was a ship that could run on its own," says Devesh, adding, "I knew that there existed an opportunity in e-commerce and I decided it was time to get manufacturers and sellers on one platform. The idea came from the gut," he says, speaking of his decision to leave ShopClues.
Arguing that a B2C (business to consumer) platform would not serve the purpose, Devesh insists it is a timing perspective. "Timing is the most critical aspect in a start-up, not when the market is ready for you. It is a judgement call that you take by being in the market yourself. I saw the mindset shift in the seller community. Buyers, government and infrastructure support - all the things had fallen into place," he said.
Tackling broken distribution chains, payment safety issues and logistics, Wydr promises increased sourcing options and addresses three fundamental needs: speed of business, trust and transparency. The start-up is targeting the $300-billion wholesale market in the country, with several wholesalers and more than 14 million retailers in play.
"We have an extremely fragmented and broken distribution chain here. It is not seamless like in the West. It won't change here. As a market, it is 30 markets rolled into one, for each State has different demands and needs," he adds.
Boost for handloom
Proliferating wider in the B2B e-commerce segment, last month Wydr associated with the National Handloom Development Corporation, mandated by the Textile ministry. The association is aimed at enabling Indian artisans' connect with retailers and distributors across the country.
"A lot of handloom guys want to sell in bulk. We have a wider reach across retailers and across the country. This takes away the need of a middle man or an agent who would take away the margin. As of now, we have four sellers and four weavers on board, and 25-30 people in the pipeline. We hope to have 150 weavers by the end of 2016 on the platform," added Devesh. The Wydr team has since connected with another State Ministry for their handicrafts.
New Delhi: Proliferating wider in the B2B e-commerce segment, Wydr associates with the National Handloom Development Corporation (NHDC) to enable the Indian artisans' community to connect with retailers and big distributors across the country.Through this endeavor, Wydr is tasked to assist in online B2B e-commerce for products certified under the 'India Handloom Brand' by NHDC.
This national level effort by the Union Ministry of Textiles is intended to educate, train and enable cooperatives and weavers to directly sell their products online.
"We are privileged to be associated with the cause of promoting our national handloom heritage and helping in market making for the handloom products," said VP Biz Dev Wydr, Rishab Dhyani.
"We have already begun reaching out to weavers and Co-operatives in the Northern region including the states of UP, Haryana and Rajasthan, with Varanasi, Panipat, Jaipur and Jodhpur etc. being the major hubs," added Dhyani.
The Wydr platform will enable the weaver community to leverage technology to reach out to new bulk customers pan India. Helping the weavers in bulk sales to direct retailers will help them garner higher realizations for their products.
Its endeavor in this partnership will be to widen the market reach of the artisan community and to make quality handloom products more accessible to the consumer. The products carry government certifications 'India Handloom Brand' and 'Handloom Mark', ensuring availability of quality handloom products to shoppers in India and elsewhere.
Spearheading the Handloom initiative the Union Ministry of Textiles and Development Commissioner of Handlooms is looking at the partnership with Wydr as a means of promoting B2B sales of quality handloom products through the online space.
Fahmedabad: As shopkeepers turn tech savvy, a clutch of entrepreneurs is carving out a niche connecting them with manufacturers using technology.The new segment, called M2B (manufacturer to business retailers), is a pivoted version of B2B. It has startups like Wholesalebox.in, Wydr, ShoeKonnect, Wholdus. com and m1 Order connecting retailers/shopkeepers to manufacturers or manufacturer's major dealers.
There is a deep urge among small retailers to source products directly from the manufacturers and this urge is visible as technology acceptability and adaptability is surprisingly awesome even in the least technology-savvy leather and shoe markets in India," said Siddharth Vij, cofounder of BizCrum Info Tech, which owns ShoeKonnect, a M2B marketplace and a shoemakers' networking and need discovery platform.
The segment is benefiting small retailers by addressing their basic and the most common problem of accessibility and logistics. It is also fetching best wholesale prices. "Size matters in retail industry.
The smaller you are, the lesser is your negotiation power and more are your overhead costs, like transportation, storage, etc.," said Rohit Dangayach, cofounder of Wholesalebox.in, which focuses on the fashion vertical.
About a year old, the Jaipur-based startup has on its platform 200-plus manufacturers and over 7,000 shopkeepers/retailers spread across 120 cities in India. With M2B, a small shopkeeper is not only able to get the lowest possible wholesale price but also has access to a wide variety of products. In addition, it provides cash on delivery model, hassle-free logistics and 90 days credit line.
The growing attraction towards bulk or wholesale business has made Ahmedabadbased m1 Order pivot its B2C business model into B2B, and it plans to soon start M2B. "The decision to pivot to B2B was the demand of small retailers and merchants who were more interested in using the technology platform for placing bulk orders," said Tejinder Oberoi, founder of m1Order.
Similarly, four-month-old Wydr, a Gurgaon-based wholesale market player, connects manufactures, brands and large wholesalers/C&S with retailers in 150 cites, many of which are in tier-2 & 3 cities like Siliguri, Talvara and Muzaffarpur.
Devesh Rai, in his past stint at ShopClues, met a large number of sellers across categories and discovered that those higher up in the distribution chain require a completely different solution. So his past experience coupled with fresh research on brands and wholesalers revealed various fissures in the B2B market: broken distribution chain, high costs involved in setting up a sales team across the country, low trust market, payment safety issues and logistics.
Devesh then launched mobile-based wholesale marketplace Wydr in January this year in Gurgaon, to bring small businesses, wholesalers, buyers, importers and retailers on one platform, eventually connecting wholesale buyers and sellers with their global counterparts. The objective was to aggregate the unorganised and fragmented Indian wholesale market.
The first-of-its kind mobile-first wholesale B2B marketplace is designed to make wholesale buying and selling more structured, organised and hassle-free, with loads of innovative state-of-the-art features packed within," says Devesh (40). He is an Economics graduate from Hindu College, Delhi University, and holds an MBA from Indian Institute of Management (IIM), Calcutta.
Competitive edge and key differentiator
The startup claims to set itself apart from other players on the basis of its smart network capability, structured chat-enabled features, and private marketplace capability with transparency. It offers marketplace services including technology stack for real-time cataloguing, deal discovery, network building, order management and processing, dispute resolution and logistics.
Once a transaction is made between a buyer and seller, logistics, customer care and post-purchase dispute resolution are taken care of by Wydr. The smart search and favourites options allow buyers to find and mark important chats, products, deals and sellers.
The startup also benefits buyers and retailers with multiple sourcing options, real-time new products, price discovery and rendering wholesale hubs. The MyNet feature on the Wydr app assists wholesalers, importers and brands to build networks, conduct chats, negotiate and finalise deals with buyers. While its Mini-ERP (sales tool) help sellers manage existing business in an organised way.
Devesh states that Wydr does not have direct competition with existing players who are neither addressing wholesale pain points nor building on new set of opportunities. Market reputation, product range and quality, size of business and pricing advantage are some of the key parameters that Wydr considers before on-boarding retailers and wholesalers.
The feature 'HighFive' is a proprietary negotiation tool with which buyers and sellers can negotiate between themselves and lock a new price. Like other similar B2B platforms, Wydr also enables sellers to publish a particular price and sell at different prices depending on the quantity and repeat business.
With its SmartLeads platform, buyers can request for quotes from multiple sellers and even for items that are not readily available on the platform. 'Private Marketplace Mode' can be used by sellers who are very sensitive about publishing their designs and want to share their catalogue only selectively.
Wydr currently has close to 1,000 sellers, with a catalogue size of two lakhs across 150 categories. Devesh says the business size of the seller ranges from Rs 50-500 crore per annum, with an employee base of 15-100. While the business size of the buyers range from Rs 24 lakh to a few crore.
The startup has partnered with Lendingkart to offer collateral-free business loans to buyers and SMEs. The partnership will also see Wydr providing short-term credit for inventory purchase to retailers and shopkeepers.
The 50-member Wydr team follows a transactional revenue model since it charges a selling fee for every transaction. Moreover, it also charges a fee for the multiple options it provides to sellers for promotion on its platform. The startup claims to be growing at a rate of 200 percent month-on-month in terms of revenue. Wydr app so far has witnessed 35,000 downloads.
It hopes to bring on board 3-4 lakh brands, wholesalers and importers in the next 3-4 years, and achieve a GMV of $1 billion in the next five years.
According to a retail giant, the India's wholesale market is expected to touch $700 billion by 2020. With the increasing growth of e-commerce and m-commerce, a large portion of the wholesale market will go online in future.
Following cater to the B2B segment: Industrybuying.com, a B2B marketplace selling industrial products to SMEs; IndiaMART-backed Tolexo.com, an e-commerce platform for business goods and supplies; Delhi-based Surpluss.in, which deals with overstock and branded surplus products; Udaipur-based startup NonMovingInventory.com, which connects potential buyers from around the world with manufacturing units or vendors.
The Ministry of Micro, Small and Medium Enterprises reported that there are 36 million small units in India. Most of them are buyers and sellers of various industrial goods, contributing to the growth of B2B e-commerce. According to consultant firm Ecumen.in, the B2B segment in India is set to grow by two-and-a-half times, and is set to touch Rs 45 lakh crore by 2020.
Driven by rich and deep understanding of the e-commerce business Devesh Rai announced foray into the B2B market with launch of Wydr, a first-of-its kind mobile first innovative wholesale B2B marketplace.
Founder and CEO at Wydr, Devesh Rai manages the platform's business, along with product development, technology, marketing and supply chain.
"The concept of Wydr didn't appear to me over night. It was while dealing with several brands and wholesalers during my past stints with companies that I identified several gaps and pain points in the business of bulk buying and selling," said Devesh.
"Regressive aspects like broken up distribution chain, cost involved in setting up a sales team across the country, low trust market, payment safety issues and logistics etc were hindering the B2B market from reaching its true potential.
Additionally, the fact that offline retail is and will continue to have lion's share of the retail business; I saw immense potential in taking the B2B market online," added Devesh.
"Our aim is to become a platform of choice for wholesale buyers and sellers by bringing in the best online innovations that makes wholesale buying and selling easier, more efficient and transparent, eventually connecting Indian Wholesale buyers and sellers with their global counterparts," he added.
Wydr adapted from the word wider is an innovative Business to Business (B2B) marketplace which brings brands, wholesalers, importers and retailers on one single platform with a vision to aggregate the unorganized and fragmented Indian wholesale market.
With innovation in its very DNA, Wydr's competitive edge lies in its smart network capability, structured chat enabled features, private marketplace capability infused with speed of conducting business, trust and transparency.
The Smart Search and Favorites options help buyers to find and mark important chats, products, deals, sellers etc. easily.
Wydr brings in an innovation led approach to address the highly fragmented wholesale market and acts as an e-marketplace providing technology stack for real time cataloging, deal discovery, network building, order management and processing, search, cart, work flows, dispute resolution, customer care and logistics.
For buyers and retailers, Wydr promises increased sourcing options, real time new product and price discovery, rendering wholesale hubs redundant while their marketplace mechanism efficiently brings in higher transparency in products prices.
The MyNet feature in the Wydr app has been created specifically for wholesalers, importers and brands and it assists them in building their own networks, conducting chats, negotiating and finalizing deals with buyers. The core benefit lies in the ERP based management of existing businesses in a more organized manner.
Q - How is Wydr connecting the buyers and sellers via technology on a single platform?
In the B2B Retail world today, majority of transactions happen offline. The wholesalers and retailers do not have a single technology platform where they can discover and transact directly. Wydr is a marketplace platform where brands/wholesalers can sell directly to shopkeepers from across the country. We provide complete marketplace platform services including Technology, Marketing, Payment, Logistics,
Customer Care and Billing & Payment to our buyers and Sellers.
What's more, the platform is designed to cater to the unique buying and selling needs of the wholesale segment. We have built unique, disruptive and innovative technology solutions specifically for this segment.
When brands/wholesalers sign on our platform they get a seller panel, through which they can upload their catalogue. This catalogue is then visible to thousands of retailers already signed up with us. Retailers can discover SKUs by browsing or searching for the specific items. They can then connect with the seller through a BizChat feature, negotiate and finalise a deal.
As a marketplace platform we are able to provide the Catalogue Width and Depth that the buyers need to stock up their shops.
Q - After the success of mobile in B2C platforms, how are B2B now adopting technology and focusing their business on Mobile applications?
We believe that mobile will play a bigger role in B2B commerce for multiple reasons. Imagine a shopkeeper sitting in his shop and quickly looking at the catalogue in-between dealing with customers and without having to worry about internet connection, logging in or booting a device. Some of the key reasons for success of mobile in B2B platform are as follows -
Q - How has the mobile connectivity solved the problem of connectivity and logistics in B2B segment?
India is a country of fragmented supply chain. Shopkeepers in Tier 2 and Tier 3 towns do not have direct access to the best products at best of pricing. This is one big problem which internet can solve for these people, by discovery of new sourcing options. However, internet on PC is still at best patchy in the country. Mobile internet bridges that gap beautifully and gives them this access sitting in their shop while conducting their daily business.
On the logistics front, one big role that mobile has played is real time view of the package. Update of package status including delivery is done real time and helps manage customer anxiety better. Another critical role played by mobile internet combined with GPS is real time tracking of the vehicle. When goods are being in bulk, this ability to track the vehicle helps in optimizing cost, reducing anxiety, managing routes and delivery times.
Q - How has Wydr expanded across India and/or what are its expansion plans?
Wydr is already available pan India. In just four months of launch we have already shipped to over 150 cities across the country. Our buyers come from all parts of the country, especially Tier 2 and Tier 3 towns.
We will further strengthen our seller presence from key wholesale and manufacturing hubs across the country.
Q - Does Wydr plan to expand abroad? What are the potential challenges in foreign markets?
Though not in near term, but we do have plans to enable sellers from other countries to be able to sell directly to retailers in India. But challenges are largely around regulations and logistics.
We even have received requests from some of our sellers who are manufacturers to help them access foreign markets. We may sometime in future explore that opportunity too.
Q - What kind of new technologies is Wydr evolving and how does it compare with similar technologies from other companies?
Wydr has developed a unique, very disruptive, innovative and relevant technology platform for the B2B Segment. Our features have been developed keeping in mind the unique requirements of B2B buyers and sellers. Some examples of our unique technologies are -
Then, we have built a very robust technology stack for e-Commerce services like catalog management, order management, inventory management, fulfillment management and user management amongst others.
Of course eCommerce today needs no introduction. The rising preference of online shopping has reshaped the economics of retail spelling a change in wholesale as well. Innovation is the backbone of the eCommerce industry and it tries to disrupt every offline vertical with injecting the digital model into it. Online shopping, online payments, online comparison, online discounts and the list go on and on. Now think about online wholesale options for retailers. Isn't that amazing!
The dependence on stores as a means to distribution points for products is swiftly shrinking with the advent of eCommerce models. The online wholesale models are effectively catering to the basic shopping and distribution needs which, until now could only be fulfilled by the brick-and-mortar online touch points.
Retailer Media caught up with Devesh Rai, CEO & Founder of Wydr, a mobile-based marketplace platform for wholesale buying and selling. In this conversation he spoke about how his venture is making wholesale buying and selling more organised, hassle-free, quicker and easier.
Please share your background. Your education and whether entrepreneurship was something you always wanted to do?
I have successfully held leadership positions in both consumer and enterprise environments. I have also been a founding member of ShopClues.com, the eCommerce marketplace and was responsible for building and managing merchant base, category incubation & management and merchant facing technology. With his leadership, ShopClues acquired the country's largest merchant base within a very short span of time and became on the top eCommerce companies in India. I have been a part of the leadership team to build and scale ShopClues business, making it a top 5 ecommerce company in India.
I have an overall experience of 18 years across IT, Media and eCommerce industries. Prior to ShopClues, I have worked with HCL Technologies, Headstrong and HT Media as well.
I am an Economics graduate from the prestigious Hindu College, Delhi University and have an MBA in Marketing and Finance from Indian Institute of Management (IIM), Calcutta.
Entrepreneurship has been a childhood dream for me. The opportunity to create value and impact people's life positively excites me.
How was the idea of your Start-up conceptualised? What is the need you are addressing in the market?
I have a decent experience in online retail business. It was during his interaction with sellers that he realised that a very large segment of sellers, typically brands and wholesalers are focused only on B2B business. And this segment has very different pain points with no online solution to help them. Wydr fundamentally addresses three key pain points which arise from the fragmented nature of B2B Wholesale business. These are Discovery, Trust and Transparency. By enabling brands and retailers to discover each other and transact with complete trust and ease of process, it is creating a whole new way of doing Wholesale business in the country.
What is your Business Model?
Wydr is a totally performance based platform. It charges a selling fee on all transactions on its platform. Today it already has more than 1000 sellers, 150 categories and more than 125K catalog size.
Who is your target consumer? Could you please share how you have detailed your consumer?
On the buy side the stand alone retailer is a key consumer of Wydr. These retailers typically make a monthly or fortnightly trip to the nearest wholesale hub to pickup his stock and assess the latest trends and prices in the market. Wydr enables them to directly buy from the bigger distributor thus saving on margins without having to leave his store. Local and regional distributors also benefit from buying in bulk on the Wydr platform.
A large, complex multi-layered distribution system in consumer goods makes it difficult for manufacturers/ importers/ brands to widen their reach beyond a certain level. This segment comprises the sell side of the Wydr marketplace. Without having to invest in a large sales team they can sell to distributors / traders across the country and therefore widen their reach. Platform trust offered by Wydr enables them to trade with new parties who would not have reached their doorstep.
What is your current distribution in Brick and Mortar space? What are your future distribution plans?
Wydr has no brick and mortar distribution. It is an online marketplace which enables brands to reach out to retail stores across the country. Thereby, enhancing their distribution reach. It is an excellent platform to complement the current general trade distribution.
Have you raised any funding so far? What are your plans to use this funding for?
Wydr has done two seed rounds of investment from leading angel investors and industry thought leaders.
What has been your A-ha Moment in the business? (The high point)
Our A-ha moment is when we saw a huge number of buyers coming from tier 2 towns and also when we realised that the repeat purchase behavior amongst our buyers is higher than what we had envisaged.
What has been your biggest challenge so far? How are you addressing it?
Our biggest challenge is providing the best of fulfillment services at cheapest of the cost competing with the unorganized offline transportation system. With our technology led approach and tie-ups with some leading transporters in the offline wholesale we are able to provide one of lowest cost fulfillment services to our buyers.
How do you see growth scenario is this business? What is your future scale-up plan?
The wholesale market is $300 billion which is expected to grow at $700 billion. We believe that a significant portion of this will move online and hence there is considerable headroom for growth. We aim to have 1 million downloads in 2 years and 6 million downloads in 5 years. We aspire to bring 300- 400 k brands, wholesalers and importers in the next 3-4 years which will be important for us in order to achieve $1 billion GMV in next 5-6 years.
Droom founder and ex-Shopclues CEO Sandeep Aggarwal has invested an undisclosed amount in Wydr, which claims to be India's first performance based wholesale marketplace. The company is reportedly in talks with potential investors for another funding round of $2 million (roughly Rs. 13 crores).
Former Shopclues chief, Sandeep Aggarwal, has invested an undisclosed amount into Wydr, a mobile app only performance based wholesale marketplace platform, founded by Devesh Rai, founding team member of ShopClues. Sandeep is the founder of ShopClues and Droom. The company is in talks with investors for another funding round of raising around $2 million as fresh funds.
The firm is targeting the $300 billion worth Indian Wholesale market which has millions of wholesalers and more than 14 million retailers currently in play. The company aims to offer tech-driven business solutions to make the wholesale buying and selling experience organised and hassle-free through features such as real-time catalogue sharing, network building, deal discovery, order processing and reach expansion through chat-enabled features.
Automobile marketplace Droom's founder and ex-Shopclues CEO, Sandeep Aggarwal has invested an undisclosed amount in performance based wholesale marketplace, Wydr.
The company is also in talks with potential investors for another funding round in order to raise around $2 Mn as fresh funds.
Started in July this year, Wydr is founded by Devesh Rai G, who was the founding team member of ShopClues. It is a mobile app only platform that provides end-to-end ecommerce marketplace platform that makes wholesale buying and selling more organized, quicker and easier.
According to Devesh, wholesale segment controls much of the entire distribution within India, and yet there have been no innovations that could overcome the challenges associated with the sector.
With Wydr, Devesh aims at creating a unique platform that will cater specifically to the demands of Indian Wholesale Market and address their three fundamental needs, that is speed of business, trust and transparency.
Wydr is targeting around $300 Bn worth Indian Wholesale market which has millions of wholesalers and more than 14 Mn retailers currently. The startup aims at integrating the real-world wholesale practices with the benefits of mobile technology.
Wydr offers tech-driven business solutions to make the wholesale buying and selling experience organised, seamless and hassle-free through features such as real-time catalogue sharing, network building, deal discovery, order processing and reach expansion through unique chat-enabled features.
However, for Sandeep, it wasn't just the highly disruptive business idea that led him to invest in the venture. He said,
Wydr fits in perfectly into my vision of game-changing entrepreneurial venture and has the potential to aggregate the wholesale market at an unprecedented scale. Moreover, I have always believed that any business idea, no matter how novel, is only as strong as the people driving it. Having known Devesh from my time in ShopClues obviously had a positive influence on my decision, as I am well aware of his pedigree, strong e-commerce experience, and deep understanding of the seller psyche in Indian retail. I have full confidence in his abilities to make the venture a success.
Sandeep Aggarwal is a serial entrepreneur and passionate early-stage investor. After his stint at Shopclues, Sandeep founded an online automobile marketplace, Droom in 2014. With an aim to expand its operations to add 20 automobile and 12 service categories hosting over 50,000 sellers and 200k listings in the next two years, Droom has also tied up with JetSetGo, an online marketplace for private jets and helicopters to mark its foray in aerial vehicle segment. Recently, it also launched a C2B marketplace.