ShakeDeal

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ShakeDeal
ShakeDeal Logo.png
Type of site
E-commerce
Available inEnglish
Founded2016; 6 years ago (2016)
HeadquartersBangalore
Area servedIndia
Founder(s)Akshay Hegde
Akash Hegde
Santhosh Reddy
Key peopleKris Nair (CEO)
Mahendra Vora (Chairman)
ServicesOnline shopping
Employees120
URLwww.shakedeal.com
CommercialYes
RegistrationRequired
Current statusActive

ShakeDeal is an Asia-based B2B e-commerce[1] and supply chain company[2] involved in procuring and supplying Safety items, MRO (manufacture, repair, and operating supplies), office supplies, packaging supplies, and corporate gifts.[3][4][5][6] The company is headquartered in Bangalore, India and has 6 fulfillment centers across major cities like Bangalore, Delhi NCR, and Ahmedabad.[7] ShakeDeal is operated by Bangalore-based Opcommerce Online Pvt Ltd.

History[edit]

ShakeDeal was founded in February 2016 by brothers Akshay Hegde[8] and Akash Hegde and their friend Santhosh Reddy.[9] Few months after launch, the company expanded its portfolio to cover over 15 categories and over 250 brands. In 2018, it was acquired by Cincinnati based Private Equity firm Vora Ventures for an undisclosed sum.[10][2]

In 2019, the company launched its own procure to pay solution for large enterprises.[11] The same year, it also expanded its footprint to Delhi NCR and Ahmedabad.[7] By June 2019, ShakeDeal introduced its private label products to plug gaps in the industrials segment.[3]

In August 2019, it added rewards and recognition to its corporate gifting vertical and[4][6] in November, launched its own packaging services vertical.[5]

In March 2020, following the nation-wide lockdown triggered by the COVID-19 pandemic, the company expanded its health and safety portfolio to include COVID essential products.[12][13][14][15][8]

The company has tied up with over 200 organizations including Adani, Vedanta, Saudi Aramco, Tata Consumer Products, Nayara Energy, Bharat Heavy Electricals Limited, Shell and Flipkart.

Funding[edit]

ShakeDeal was initially bootstrapped by the founders since its inception in February 2016. It subsequently raised funding from angel investors in July 2017.[2][16][1]

In March 2018, it was acquired by US based private equity firm Vora Ventures for an undisclosed amount.[17][18] Vora Ventures has led the Series A institutional round of funding into ShakeDeal.[2][10]

Awards and Recognition[edit]

2017: Technology Hot100 Startups.[19]

2020: Fastest growing Small Business of the Year at the Small Business Awards 2020 organised by Zee News, Economic Times, Entrepreneur India.[20]

2020: E-commerce (B2B) Start-up of the Year at the 10th Edition of the Entrepreneur Awards 2020.[21]

See also[edit]

References[edit]

  1. ^ a b The Hindu BusinessLine. "B2B marketplace Shakedeal claims 600% growth". thehindubusinessline.com. Retrieved 31 May 2019.
  2. ^ a b c d vccircle.com. "PE firm Vora Ventures acquires B2B online marketplace ShakeDeal". TEAM VCC. Retrieved 6 June 2018.
  3. ^ a b ETBrandEquity. "ShakeDeal introduces private labels to plug gaps in the industrial supplies segment". brandequity.economictimes.indiatimes.com. Retrieved 24 June 2019.
  4. ^ a b ETBrandEquity. "ShakeDeal adds rewards and recognition solutions to its corporate gifting platform". brandequity.economictimes.indiatimes.com. Retrieved 8 August 2019.
  5. ^ a b ETBrandEquity. "B2B e-com player ShakeDeal launches its design and packaging vertical". brandequity.economictimes.indiatimes.com. Retrieved 27 November 2019.
  6. ^ a b Monica Pallavi. "ShakeDeal Adds Rewards and Recognition Solutions to its Corporate Gifting Platform". Siliconindia. Retrieved 9 August 2019.
  7. ^ a b "Shakedeal announces its expansion into new geographies". Indiantelevision.com. Retrieved 6 May 2019.
  8. ^ a b "In the lockdown months, PPE as a category was contributing 60-70% to sales; however, that figure has now rationalised to around 30%., Shakedeal MD Akshay said". newindianexpress.com. Retrieved 19 July 2020.
  9. ^ ಕೇಶವ ಜಿ. ಝಿಂಗಾಡೆ. "'ಬಿಟುಬಿ' ಖರೀದಿಗೆ ಶೇಕ್‌ಡೀಲ್‌". prajavani.net (in Kannada). Retrieved 22 January 2020.
  10. ^ a b BW Businessworld. "Vora Ventures Acquires ShakeDeal, India's Leading B2B Online Marketplace". businessworld.in.
  11. ^ "AI & ML: The New Era Market Intelligence Advisor For Procurement". BW Businessworld. Retrieved 13 September 2019.
  12. ^ Sulekha Nair. "Lockdown impact: With loaders, workers leaving cities, shipment transportation stuck at ports; some firms introduce solutions". Firstpost. Retrieved 6 April 2020.
  13. ^ Ananya Bhattacharya. "Coronavirus is changing the way India's startup employees work in office—and outside it". Quartz India. Retrieved 12 March 2020.
  14. ^ Navneel Maji. "E-Commerce Players Prep Ahead Of Resuming Operations". BW Businessworld. Retrieved 17 April 2020.
  15. ^ Jyotsna Sharma, Navneel Maji. "Ecommerce companies have notched up extraordinary growth with their innovative solutions to the challenges posed by the pandemic". BW Businessworld. Retrieved 5 August 2020.
  16. ^ The New Indian Express. "Shakedeal aims to grow at 300 per cent this fiscal". newindianexpress.com. Retrieved 19 July 2020.
  17. ^ Andy Brownfield. "Cincinnati's Vora Ventures expands overseas with Indian acquisition". American City Business Journals. Retrieved 5 June 2018.
  18. ^ Apoorv Anupam. "Vora Ventures acquires B2B Online Marketplace ShakeDeal". Techstory.in. Retrieved 10 June 2018.
  19. ^ Hot100. "Hot100 WINNERS 2017". Hot100.
  20. ^ Franchise India. "Small Business Awards". Franchise India.
  21. ^ Entrepreneur India. "Entrepreneur Awards". Entrepreneur India.

External links[edit]