Info-tech

B2B marketplace Shakedeal claims 600% growth

Our Bureau New Delhi | Updated on May 31, 2019

B2B sourcing and selling platform Shakedeal, which helps businesses procure industrial goods and office supplies, has grown by 600 per cent in the last financial year.

“I think we can keep that on, given that we are well-capitalised, have good resources, are making inroads, and opening up new verticals,” Akshay Hegde, Co-founder and MD of Shakedeal, said.

Shakedeal currently services around 4,000 orders every month, and is looking to grow at a 25 time higher growth rate this year. Hegde expects a large chunk of this to be driven by small and medium enterprises (SMEs).

But large corporate clients would drive Shakedeal’s growth, Hegde said. “Of the top 1,000 corporates in India, we have got 20 per cent of them,” he said.

The average ticket size per order for Shakedeal stands between ₹25,000-50,000 as of now.

Hegde said that the 25-times higher growth target was across the board, and not just in terms of the number of monthly orders.

“It is going to involve growth rate in terms of market share and the number of customers,” he said.

Corporate gifting is one of the new verticals the company is targeting. It is also looking at office supplies to help growth, according to Hegde, as it is predictable.

“It (office supplies) is almost like a subscription-based model,” Hegde said.

Shakedeal was acquired by US-based Vora Ventures, a private equity firm, last year.

“This has enabled us to be well-capitalised and also leverage the other group companies in the PE fund’s portfolio to gain market share, strategic insights, and so on,” Hegde said.

Published on May 31, 2019

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