Biography of Sourjyendu Medda: Co-Founder of DealShare & Sports for Life-Entrepreneur
Biography of Sourjyendu Medda:
Sourjyendu Medda is a seasoned business professional who
co-founded DealShare, a social e-commerce startup aimed at revolutionizing the
retail experience for India's middle- and lower-income populations. With a
strong background in consumer brands and business management, Sourjyendu, along
with his childhood friend Vineet Rao, identified a unique opportunity to bring
value to consumers who prioritize affordability over variety. They left their
corporate jobs in 2018 to pursue this dream, setting up DealShare in Jaipur
after extensive research on consumer behavior in smaller cities and towns.
Educational Background and Early Career
Sourjyendu is an alumnus of the National Institute of
Industrial Engineering (NITIE), Mumbai, and the National Institute of
Technology (NIT), Jamshedpur. He has over two decades of experience working
with major brands like Citibank, Britannia Industries, and Metro Cash and Carry
India. His roles across various companies honed his skills in marketing, CRM,
pricing, and operations, which later became critical in the success of
DealShare. His career journey reflects his deep understanding of the Indian
market and consumer behavior, particularly in the retail and FMCG sectors. Sourjyendu
is an IIM Gold Medallist, further highlighting his academic excellence and
strategic thinking. His career trajectory showcases his versatility and
commitment to driving growth and innovation across different sectors.
Early Entrepreneurship
Before entering the corporate world, Medda also gained
experience as a Centre Manager at Professional Tutorials in Jaipur, Rajasthan,
from June 2001 to May 2003. This role marked the beginning of his career, where
he developed early leadership skills and a passion for education and training.
Early Career at Britannia Industries
Following his tenure at Citibank, Medda transitioned to the
consumer goods industry with a role as a Management Trainee at Britannia
Industries Limited from May 2005 to March 2006. During this time, he gained
insights into the fast-moving consumer goods (FMCG) sector, including sales
management and brand development. His experience at Britannia provided him with
a strong foundation in consumer goods, which would prove beneficial in his
subsequent leadership roles.
Sales Expertise at Citibank India
Medda's career began in the banking sector, where he served
as an Area Sales Manager at Citibank India from March 2006 to February 2009. In
this role, he gained valuable experience in managing sales teams and driving
business growth in the financial services industry. His time at Citibank helped
him develop a deep understanding of consumer behavior and sales strategies,
skills that he would later apply in his roles in retail and e-commerce.
Strategic Leadership at Metro Cash & Carry India
Sourjyendu Medda's extensive experience includes several
strategic roles at Metro Cash & Carry India, where he worked for over eight
years. His responsibilities ranged from Head of Sales Force & Target Group
Management (Traders) to Head of CRM & Pricing. Medda's contributions were
instrumental in enhancing Metro’s sales and customer relationship management
processes, which helped the company strengthen its market position in India.
His work at Metro laid the foundation for his later success in the retail and
e-commerce sectors.
Biography of Sourjyendu Medda: Co-Founder of DealShare & Sports for Life-Entrepreneur/Investor/Success story of Sourjyendu Medda/Life story/DealShare
Transforming Raymond Consumer Care: Head of Sales
Before founding DealShare, Medda held the role of Head of
Sales at Raymond Consumer Care from February 2017 to September 2018. In this
position, he played a critical role in achieving sales targets and implementing
robust sales development and trade marketing processes. He was part of a
leadership team tasked with transforming Raymond Consumer Care from a
loss-making entity to a profitable business, a goal that was successfully
achieved within a year. Medda also rebuilt the sales team, ensuring it was
equipped to meet the company’s ambitious goals.
The Inception of DealShare
DealShare was born out of the realization that middle- and
lower-income consumers in India were struggling with the rising costs of daily
essentials while also facing limited accessibility to affordable options.
Sourjyendu and his co-founders recognized that traditional e-commerce models,
heavily inspired by Western practices, were not resonating with the mass Indian
market. They saw an opportunity to create a more localized, value-driven
shopping experience by leveraging the social virality of platforms like
WhatsApp, allowing for a more organic and cost-effective customer acquisition
strategy.
In August 2018, Sourjyendu Medda co-founded DealShare, a
rapidly expanding e-commerce platform that emphasizes a “WhatsApp-first”
approach tailored for India’s underserved markets. DealShare's mission is to
attract 500 million new users who are less familiar with online shopping or
modern retail formats. The platform simplifies the shopping process, allowing
users to purchase products with just a few clicks or through neighborhood
stores, and enables social sharing of deals. DealShare’s product range includes
groceries, health and beauty items, fashion accessories, and more, focusing on
demand aggregation through social virality.
Tackling the Challenges in Indian Retail
The retail sector in India posed unique challenges,
particularly the dominance of unorganized trade and the low penetration of
e-commerce. Sourjyendu and his team conducted in-depth research in small cities
and towns to understand why consumers still preferred traditional retail
despite the presence of modern trade. They discovered that the overwhelming
variety offered by most e-commerce platforms was not appealing to consumers
used to limited choices at local kirana stores. Moreover, many consumers found
the user experience on existing e-commerce apps confusing and alienating.
Simplifying the E-Commerce Experience
To address these challenges, DealShare differentiated itself
by offering a simplified shopping experience with a limited selection of
high-quality products. By focusing on essential goods and reducing the number
of SKUs to around 2,000, DealShare made it easier for consumers to navigate
their platform without feeling overwhelmed by too many options. This strategy
also allowed the company to streamline operations, reducing costs and enhancing
customer satisfaction.
Emphasizing Affordability
Affordability was a key focus for DealShare. The company
bypassed traditional sales and marketing expenses, opting instead for a social
marketing approach that significantly reduced customer acquisition costs. This
approach enabled DealShare to offer products at prices that were affordable to
the average Indian consumer. By partnering with small and medium manufacturers
in the grocery and essential space, DealShare provided high-quality products
without the premium costs associated with big brands.
Localizing the Customer Experience
Understanding the importance of localization, DealShare
tailored its platform to resonate with consumers in different regions of India.
The app was not only available in local languages but also designed with a
local tonality that reflected the cultural nuances of various states. This
localization extended to content creation, with local writers contributing to
the app's content, ensuring that it was relatable and easy to use for consumers
across different regions.
Streamlining Fulfillment
DealShare also innovated in the area of fulfillment. By
keeping warehousing and last-mile delivery costs to just 7-8 percent, compared
to the 20 percent seen by other e-commerce players, DealShare was able to pass
on the savings to consumers. This efficiency in fulfillment further enhanced
the affordability of their products, allowing consumers to purchase more items
for the same amount of money, thereby addressing the affordability issue that
had been a major barrier for many shoppers.
The Strategic Choice of Jaipur
Jaipur was chosen as the launch city for DealShare because
it represented a blend of urban and semi-urban characteristics, making it an
ideal testing ground for their business model. The founders, who had personal
connections to the city, believed that if they could succeed in Jaipur, they
could replicate their success in both more urbanized and rural areas. This
strategic choice paid off, as DealShare quickly expanded its operations to
cover 10 Indian states, serving over 2 million active customers.
Building a Sports Legacy: Founder & CEO of Sports for
Life
Sourjyendu Medda is the Founder and CEO of Sports for Life
(SFL), an initiative he launched in April 2024. Based in Bengaluru, SFL is
dedicated to revolutionizing sports coaching and events for children across
India. The organization focuses on enhancing training and competition in
various sports by creating a network of high-quality sports academies. Medda's
vision for SFL aims to revitalize India’s sporting culture by transforming
grassroots sports and bringing advanced technology, shared services, and
strategic branding to support young talent.
Supporting MSMEs and Local Brands
One of DealShare's most significant contributions has been
its support for Indian MSMEs (DealShare Dost) and indigenous brands. By
providing these businesses with a platform to reach a wider audience, DealShare
has not only helped them scale but also contributed to job creation and
improved livelihoods in small towns and rural areas. Sourjyendu’s vision of a
self-reliant India is reflected in how DealShare has empowered over 20,000
MSMEs and 1,000 local brands, helping them grow and thrive in a competitive
market.
The Kotak Mahindra Bank Partnership
DealShare's partnership with Kotak Mahindra Bank has been
instrumental in its growth. This relationship began on the recommendation of
friends who were also entrepreneurs and has evolved into a strong collaboration
that has supported DealShare across various stages of its journey. The
partnership has been a steady source of financial and strategic support,
helping DealShare navigate the challenges of scaling a fast-growing business.
Overcoming Growth Challenges
Despite its success, DealShare faces challenges in
maintaining its unique business model as it scales. One of the biggest
challenges is retraining employees from other e-commerce companies who are
accustomed to different work patterns. Sourjyendu emphasizes the importance of
aligning these teams with DealShare's philosophy and vision, which focuses on
solving real problems for the population rather than simply chasing growth
metrics. This approach has kept the company grounded and focused on long-term
value creation.
The Unicorn Milestone and Beyond
DealShare’s achievement of unicorn status, with a valuation
of over $2 billion, is a significant milestone, but Sourjyendu views it as just
one step in a much larger journey. He believes that the true measure of success
lies in how much value an entrepreneur can add to their organization and the
broader community. For him, the goal is not just to be a unicorn but to
eventually become a decacorn and beyond, contributing to the creation of Indian
companies with valuations exceeding $100 billion.
A Vision for the Future
Sourjyendu’s vision for DealShare extends far beyond its
current achievements. He is committed to continuing the company’s mission of
providing affordable, high-quality products to the masses while supporting
local communities and businesses. By focusing on solving the real problems
faced by India’s middle- and lower-income populations, Sourjyendu aims to
create a lasting impact on the country’s economy and society. His journey with
DealShare is a testament to the power of entrepreneurial vision and the
importance of staying true to one’s values and mission.
A timeline summarizing Sourjyendu Medda's journey:
2001-2003: Early career as Centre Manager at Professional
Tutorials, Jaipur.
2005-2006: Management Trainee at Britannia Industries,
gaining FMCG insights.
2006-2009: Area Sales Manager at Citibank India, honing
sales and consumer behavior skills.
2009-2017: Strategic roles at Metro Cash & Carry India,
leading sales, CRM, and pricing.
2017-2018: Head of Sales at Raymond Consumer Care,
contributing to its turnaround.
August 2018: Co-founded DealShare, focusing on affordable
e-commerce for underserved markets.
2019: DealShare expands, supporting MSMEs and local brands.
2021: DealShare achieves unicorn status.
2023: Continued expansion with the vision of becoming a
decacorn.
April 2024: Founded Sports for Life (SFL), enhancing sports
coaching in India.
