Biography of Vineet Rao: Founder & CEO of DealShare- Indian Entrepreneur
The Story of Vineet Rao: Social E-commerce
Early Foundations in Technology
Vineet Rao’s journey began with a solid foundation in
technology, shaped by his education at the Indian Institute of Technology,
Bombay. Graduating in 2000 with a degree in Computer Science, Rao embarked on a
career that would see him at the forefront of technological innovation. His
early work included roles at Trilogy and Microsoft, where he honed his skills
in software development and program management, contributing significantly to
various tech projects.
Education
Vineet Rao, an innovative entrepreneur and tech visionary,
has built a remarkable career marked by significant achievements across various
sectors. He began his academic journey with a Bachelor of Technology in
Computer Science from the Indian Institute of Technology, Bombay, where he
studied from 1996 to 2000. His foundational years were spent at Saint Xaviers
Jaipur, where he completed his high school education.
Early Career
Leadership in Tech: SilkCloud and Microsoft
Vineet's career also includes significant corporate roles.
As Managing Director of SilkCloud from October 2014 to August 2015, he led the
company through a successful acquisition by Unity Technologies. Prior to
SilkCloud, Rao was a Principal Group Program Manager at Microsoft from March
2004 to September 2014. His decade-long tenure at Microsoft involved overseeing
various projects and driving technological innovations. His career began at
Trilogy, where he worked as a Developer from June 2000 to February 2004,
contributing to his solid foundation in technology and development.
Previous Ventures: From Virtual Reality to Cross-Border
E-Commerce
Before DealShare, Vineet explored various domains with his
entrepreneurial ventures. From June 2016 to May 2018, he was the founder of
Shopwest, a cross-border e-commerce platform based in Bengaluru. His journey
also includes a stint as the founder of SpectraVR Studios Pvt Ltd from
September 2015 to May 2016, where he delved into virtual reality. Notably, SpectraVR
created India's first 360-degree video experience of a song with Bollywood star
Shah Rukh Khan, showcasing Rao's knack for blending technology with creative
content.
Biography of Vineet Rao: Founder & CEO of DealShare- Indian Entrepreneur /Investor/Success story of Vineet Rao/Life story of Vineet Rao/DealShare
Venturing into Virtual Reality
In 2015, Rao ventured into the realm of virtual reality with
the founding of SpectraVR Studios. The company was notable for its innovative
approach to VR content, including a pioneering 360-degree video project for
Bollywood film "Dilwale." This venture showcased Rao's ability to
blend technology with creative media, setting the stage for his future
endeavors.
Cross-border E-commerce and SilkCloud
Following his stint in VR, Rao transitioned to cross-border
e-commerce with the establishment of Shopwest. This platform aimed to simplify
global trade, providing a seamless shopping experience for consumers. Rao’s
work in this space attracted attention, leading to SilkCloud's acquisition by
Unity Technologies, a testament to the success and impact of his efforts in the
e-commerce sector.
Founding DealShare: A New Era in E-Commerce
In September 2018, Rao founded DealShare, a social
e-commerce marketplace designed to cater to India’s growing internet user base.
DealShare emerged as a unique platform leveraging social media and messaging
apps like WhatsApp to sell groceries and household essentials. This approach
was tailored to serve first-time internet users, making online shopping
accessible and convenient.
Under his leadership, the company has made significant
strides in transforming online shopping experiences for users in India,
focusing on offering a diverse range of products and innovative services to
meet consumer demands.
Rapid Growth and Unicorn Status
DealShare’s innovative model quickly garnered attention, and
by early 2022, the startup had raised $165 million from leading investors
including Tiger Global and Alpha Wave Global. This funding round catapulted
DealShare into unicorn status, marking it as one of India’s fastest-growing
e-commerce companies. Rao’s vision and leadership were pivotal in achieving
this milestone.
Leadership Transition
In a strategic move to pivot towards a hybrid online and
offline model, Rao stepped down from his role as CEO in early 2022. He decided
to focus on guiding the company’s board in finding a new CEO and continuing to
advise on leadership matters. This transition reflected a broader shift in
DealShare’s strategy, aiming to enhance its retail business.
Strategic Appointments
Following Rao’s departure, DealShare made several key appointments
to bolster its leadership team. Former Big Bazaar CEO Kamaldeep Singh was
brought on as President of Retail, and Rajesh Purohit from SPAR Hypermarkets
India joined as Senior Vice President of Retail. These moves were part of
DealShare’s strategy to strengthen its operational capabilities and expand its
market presence.
DealShare’s Market Impact
DealShare’s impact on the Indian market has been
significant. The platform’s unique approach to social commerce has made online
shopping more accessible to a wider audience. By leveraging social media
channels, DealShare has successfully competed with other e-commerce giants,
offering a diverse range of products and services.
The Evolution of E-commerce
Under Rao’s leadership, DealShare has transformed the
e-commerce landscape in India. The company’s focus on social commerce and its
innovative use of technology have set new standards for online retail.
DealShare’s growth trajectory and its ability to adapt to market demands
highlight the dynamic nature of the e-commerce industry.
Future Prospects
As DealShare continues to evolve, its focus on integrating
online and offline retail strategies is expected to drive further growth. The
company’s commitment to enhancing the consumer experience and expanding its
product offerings positions it well for future success in a competitive market.
Vineet Rao’s Legacy
Vineet Rao’s journey from technology pioneer to e-commerce
innovator illustrates his adaptability and vision. His contributions to the
tech and e-commerce sectors have had a lasting impact, and his role in founding
and leading DealShare exemplifies his ability to drive growth and innovation.
Looking Ahead
With a strong leadership team in place and a clear strategic
direction, DealShare is poised for continued success. The company’s ability to
leverage social commerce and adapt to market trends will be key to maintaining
its competitive edge and achieving its long-term goals. Rao’s legacy will
undoubtedly influence the future of e-commerce in India.
Timeline for Vineet Rao’s story
2000: Graduated from IIT Bombay with a BTech in Computer
Science.
June 2000 - February 2004: Developer at Trilogy.
March 2004 - September 2014: Principal Group Program Manager
at Microsoft.
October 2014 - August 2015: Managing Director at SilkCloud,
leading to acquisition by Unity Technologies.
September 2015 - May 2016: Founder of SpectraVR Studios,
creating India’s first 360-degree music video.
June 2016 - May 2018: Founded Shopwest, a cross-border
e-commerce platform.
September 2018: Founded DealShare, a social e-commerce
marketplace.
Early 2022: DealShare raised $165 million, achieving unicorn
status.
Early 2022: Stepped down as CEO to focus on board advisory
roles and leadership transitions.
