Yebhi.com seems to preparing for a monetary infusion amounting to US$ 25 Million (about Rs. 137 Crores) in the first quarter of 2013. Yebhi’s parent company Big Shoe Bazaar Pvt. Ltd. is in discussions with existing & maybe new investors for the fourth rounding of funding.
In Series B, the e-commerce site had raised Rs. 40 Crores (US$ 7.35 Million) way back in July last year. Within a short span of 4 months, it concluded another round, this time Series C, for Rs. 100 Crores (US$ 18.3 Million) from Fidelity Growth partners, Qualcomm Ventures and Catamaran Ventures. It had started with a corpus of Rs. 10 Crores (US$ 1.83 Million)
This time, the figure has swollen to 25 Million revealed Manmohan Agarwal, founder of Yebhi.com, “We are in talks with our existing partners as well as other investors. We will divulge further details at that time. Our focus is to grow fast and break-even sooner than expected. We expect to achieve this on the back of constant innovation in both back-end and front-end infrastructure, supply chain and increase the product portfolio”
Yebhi.com seems to be aggressively trying to disrupt the online retail segment with never-before-heard marketing gimmicks. Just last year it had come up with a concept of ‘At Home Trials’ wherein buyers could select multiple outfits & ask them to be delivered to their residences. Thereafter, they could try them & choose to buy only those they deemed fit.
Let’s see if this round of funding will the accelerate the growth of this site as compare to other online stores. What do you think?
Image Courtesy | freemelo