Sourjyendu Medda, a co-founder of the troubled e-commerce venture DealShare, has left the company. (Credit: LinkedIn)
MUMBAI: Troubled e-commerce startup
DealShare
’s co-founder
Sourjyendu Medda
has quit the firm. Medda is the third co-founder to exit the startup. Last year, other co-founders
Vineet Rao
and
Sankar Bora
had quit the company.
In a statement on Thursday, the company said that it has appointed
Kamaldeep Singh
as the new
CEO
of the company. Singh had joined DealShare as the president of the company’s retail business in December 2022.
“As the company embarks on this next phase of growth, the Board and Investors have appointed Kamaldeep Singh as the new CEO of the company. The move comes after a six-month exhaustive and rigorous selection process by a leading global executive search and leadership consulting firm. The firm met both internal and external candidates who were suitable for the role,” the company said in a statement.
Medda will continue to be one of the key shareholders of the company, the firm said. “In the past one year, the board and the leadership at DealShare have been working closely to find the right business model to ensure a faster route to profitability. With a strong push on offline retail, the company is in the process of transitioning from an online-only model to a hybrid model that combines both online and offline operations,” the startup said.
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