kamaldeep singh: Dealshare names Kamaldeep Singh as CEO, third cofounder Medda quits

Troubled ecommerce firm Dealshare said it has appointed Kamaldeep Singh as its CEO. Post the development, another cofounder Sourjyendu Medda has also left the firm joining Vineet Rao and Sankar Bora who moved on from DealShare.

Singh joined Dealshare in December 2022 as president of the retail business at the Bengaluru-based firm. He was previously the chief executive of BigBazaar. Singh’s appointment comes after an investor-led restructuring at the firm. ET reported in November last year about Singh being the frontrunner for the post of Dealshare CEO.

“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. ET had also reported Sourjyendu Medda–among the two remaining founders–was also in the race for the top post.

“In the past one year, the board and the leadership at DealShare have been working closely to find the right business model to ensure 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 operation,” the company added in its statement.

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