Vineet Rao’s story is an inspiring story. He co-founded DealShare in 2018 in Bangalore along with Sankar Bora, Sourjyendu Medda, and Rajat Shikhar. The company started as a WhatsApp-based grocery platform focused on value-conscious consumers in Tier‑2 and Tier‑3 towns. By integrating regional language support, community buying, and hyperlocal sourcing, DealShare became a social commerce sensation. It achieved unicorn status in 2022 with a valuation exceeding $1 billion and a revenue run-rate of $1 billion at its peak. However, the company faced significant headwinds in FY24, with a 75% drop in revenue and a shift in leadership and business model.
Basic Details
| Origin Country | India |
| Legal Name | DealShare Technology Private Limited |
| Brand | DealShare |
| Founder | Vineet Rao |
| Co-Founder | Sankar Bora, Sourjyendu Medda, Rajat Shikhar |
| CEO | Kamaldeep Singh |
| Industry | E-Commerce |
| Website | www.dealshare.in |
| Year of Founding | 2018 |
| Valuation | ~$1 Billion (2022) |
| Employees | Estimated 1,500 to 3,500 at peak |
| Headquarters | Bangalore, Karnataka |
| Status | Active |
FOUNDER OVERVIEW – VINEET RAO
➤ Net Worth (2025)
At DealShare’s peak valuation in 2022, Vineet Rao’s estimated net worth ranged between $50–70 million, based on his founding stake and equity before stepping down as CEO in 2023. Post-restructuring, the valuation dropped significantly, and his current net worth remains unconfirmed but reduced from peak.
➤ Ownership in Company
Vineet was one of the core founders and held a significant early-stage stake. While his operational role ended in 2023–24, he remains a key figure in DealShare’s origin story and early success as the first CEO.
➤ Ventures Founded
- DealShare (2018): His flagship and most well-known venture
Prior to DealShare, Vineet held senior product and engineering roles in the US, including at Microsoft, and came back to India with the goal of building mass-scale tech for Bharat.
➤ Investments
Vineet has not been publicly linked to angel investing or advisory roles post-DealShare, though his experience makes him a potential mentor in India’s social commerce and rural-tech space.
➤ Recognition & Awards
- ET Startup Awards – Social Commerce Disruptor (2021)
- LinkedIn Top Startups India – DealShare (2021, 2022)
- Featured in YourStory’s Emerging Bharat Entrepreneurs
- Key speaker at India D2C Summit, TechSparks, and regional commerce roundtables
PERSONAL STORY: VINEET RAO
Vineet Rao grew up in India and pursued a strong academic and tech-oriented path that took him to the United States. He worked for top global companies, including Microsoft, where he honed his skills in product management and scalable tech systems. But despite his international success, he felt a strong pull to return to India and build something meaningful—something that would serve the underserved.
That insight took shape during a visit to his hometown, where he noticed how middle- and lower-income households struggled with price transparency and access to affordable daily essentials. Traditional kirana stores dominated, but they lacked efficiency and digital integration. This gap, especially in Tier 2 and Tier 3 towns, led Vineet to imagine a new kind of commerce—one that was digital but deeply local.
In 2018, Vineet teamed up with co-founders Sankar Bora, Sourjyendu Medda, and Rajat Shikhar to launch DealShare, starting with a simple WhatsApp-based order group. Their goal was to deliver groceries and FMCG products at affordable rates using bulk buying, community referrals, and hyperlocal supply chains.
Vineet personally oversaw the product and technology roadmap. He believed in building for “Bharat”—with regional language interfaces, voice-based customer support, and group buying incentives. DealShare became an overnight hit in smaller towns, reaching over 10 million users by 2022 and achieving unicorn status with backing from Tiger Global and ADIA.
However, as the company scaled rapidly, it faced challenges in execution, logistics, and profitability. Vineet stepped down as CEO in 2023 to make way for operational leadership, but his role in defining the category of “social commerce for Bharat” remains unquestioned. His story is a mix of global training and local empathy—a founder who didn’t just return home, but helped redefine how India shops.
FOUNDING STORY: DEALSHARE
Inspiration Behind the Idea
The idea for DealShare was born from a deeply local problem: people in smaller Indian towns lacked access to affordable daily essentials at fair prices. Traditional retail didn’t scale, and e-commerce was too expensive or irrelevant. Vineet Rao saw an opportunity to bridge this gap by combining mobile-first technology, social referrals, and hyperlocal delivery networks to serve “Bharat”—India’s vast population in Tier 2 and 3 cities.
Founding Team
In 2018, Vineet teamed up with Sankar Bora, Sourjyendu Medda, and Rajat Shikhar. The founding team brought a mix of tech, operations, and commerce experience. Vineet led the tech and product vision, while the others focused on supply chain, category building, and seller onboarding.
Starting Capital
The venture began with seed capital from family offices and early believers. Initial traction came from a WhatsApp-based ordering model in Jaipur. By 2020, the company had raised its Series A and was rapidly expanding across Rajasthan and Gujarat.
Early Challenges
DealShare had to solve multiple hard problems simultaneously:
- Building a digital commerce model for low-tech users
- Managing last-mile delivery in low-density areas
- Convincing regional suppliers to adopt tech-driven distribution
- Handling logistics on thin margins and cash-based customers
The solution? Deep localization—everything from language to UI, pricing to logistics was optimized for affordability and simplicity.
Breakthrough
The breakthrough came in 2021 when DealShare hit viral adoption across Tier 2 cities, fueled by group buying incentives, social sharing, and regional language apps. Investors took notice, and the company raised over $400 million, reaching unicorn status in 2022.
The platform went on to serve millions, partnering with 1,000+ local suppliers and delivering over 10,000 orders per day at its peak. Its mobile-first and social-first approach made it one of India’s most promising mass-market commerce brands.
However, by 2023–24, DealShare faced scale challenges, operational inefficiencies, and high cash burn. Leadership was restructured, and Vineet stepped back from daily operations. But the foundation he laid—in building a commerce platform for Bharat—remains relevant in India’s ongoing retail evolution.
COMPANY PROFILE: DEALSHARE
DealShare is an Indian social commerce platform that targets value-conscious consumers in Tier 2 and Tier 3 cities. Launched in 2018, the company blends technology, hyperlocal logistics, and regional sourcing to deliver essential products at highly competitive prices. It differentiates itself through group buying incentives, local supplier integration, and a mobile-first experience tailored for low-data and regional-language users.
Area Served
- Operates in over 150 cities across states like Rajasthan, Gujarat, Maharashtra, Karnataka, and Uttar Pradesh
- Focus on Tier 2, Tier 3, and rural clusters
- Delivery network covers urban outskirts and dense community pockets
Vision & Mission
Vision: To make quality daily essentials affordable and accessible for every Indian household.
Mission: To revolutionize grocery and essential shopping in India by combining technology, local supply chains, and social buying to reach underserved communities.
Services / Products Offered
Groceries & Essentials
- Daily household staples: rice, pulses, flour, sugar, oil
- Packaged foods, snacks, beverages, and dairy
FMCG & Household Products
- Personal hygiene, cleaning supplies, baby care, and cosmetics
- Regional and local brands prioritized for affordability
Private Label Products
- High-margin house brands in basic grocery and personal care
- Custom-packaged for regional tastes and price points
Social Buying & Referral Model
- Group deals unlocked through WhatsApp or in-app sharing
- Discounts for inviting friends, buying together, or bundling quantities
Mobile-First Platform
- Regional language interface (Hindi, Gujarati, Marathi, etc.)
- App optimized for low-bandwidth usage and older Android devices
Offline Micro Warehouses
- Local hubs enable 24–48 hour delivery at scale
- Inventory-light model tailored to each region’s buying patterns
Business Model
DealShare operates on a hybrid of inventory-led and marketplace models, sourcing directly from regional suppliers and manufacturers.
- Sells directly to consumers at discounted prices
- Makes margin through bulk buying and private labels
- Uses social sharing to reduce CAC (Customer Acquisition Cost)
Revenue Model
- Product Sales: Core revenue from daily essentials and FMCG sold via app
- Private Label Margin: High-margin in-house SKUs contribute 30–40% of gross profits
- Supplier Slotting Fees: Regional manufacturers pay for app visibility and product placement
- Group Buying Engine: Algorithmically incentivized pricing based on shared carts
- Delivery & Service Fees: Nominal logistics charges in high-density areas
Market Landscape & Competitors
DealShare competes with Meesho (grocery segment), CityMall, Jiomart (in Bharat segments), and Flipkart Supermart. Its advantage lies in social-led discovery, extreme price sensitivity, and regional-first execution.
USP (Unique Selling Proposition)
- Social commerce tailored for Bharat
- Low-cost acquisition via referral marketing
- Regional brand onboarding (low competition, high stickiness)
- Tech-built for low-end smartphones and high-frequency shopping
- Community leaders (local influencers) act as last-mile salesforce
Growth Highlights
- Reached 10M+ app users within 3 years
- Became a unicorn in 2022 with $1B+ valuation
- Partnered with 1,000+ regional FMCG brands
- Over 10,000 daily orders across 150 cities at its peak
- Hit a revenue run-rate of $1B in 2022 before FY24 slowdown
Funding & Investment History
- DealShare raised over $400 million across multiple rounds from investors including:
- Tiger Global
- Matrix Partners
- Alpha Wave Global
- WestBridge Capital
- ADIA (Abu Dhabi Investment Authority)
Awards & Recognition (Company)
- ET Retail Startup of the Year – Bharat Category
- LinkedIn Top Startups India (2021 & 2022)
- NASSCOM Rising Commerce Innovator
- Featured in YourStory’s 100 Digital Disruptors
Team Size & Culture
At peak scale, DealShare employed between 1,500 and 3,500 people, with a lean regional operations team and centralized tech/product in Bangalore. The culture promoted speed, experimentation, regional immersion, and low-cost scaling. Leadership transitions in 2023–24 aimed at re-aligning execution with profitability.
Future Plans
- Focus on profitable growth in 50 core cities
- Shift toward deeper penetration vs expansion
- Explore B2B grocery for kiranas and small retailers
- Relaunch private label categories with tighter supply chain
- Strengthen warehousing, logistics AI, and product-level recommendations
CONCLUSION
“India’s next 500 million consumers don’t need more options—they need better access. That’s what we built DealShare for.”
—Vineet Rao, speaking at the Bharat Commerce Summit (2022)
Vineet Rao’s journey with DealShare is a bold attempt to redefine commerce for India’s mass market. From a simple WhatsApp grocery experiment to a billion-dollar social commerce platform, he built a model rooted in affordability, localization, and digital trust. While the journey faced turbulence in FY24, the core idea—to serve Bharat with tech-first, community-driven retail—remains visionary. Vineet helped unlock a massive untapped segment and changed how everyday Indians shop for essentials. His story is one of conviction, creativity, and the courage to serve where others didn’t look. DealShare is his bet on Bharat—and it’s far from over.
