DealShare Loses Its CEO Just as the Company Itself Weighs a Sale

DealShare is facing another leadership reset at a particularly sensitive moment. CEO Kamaldeep Singh has stepped down from the value-commerce startup and joined Indofast Energy as its new chief executive, leaving DealShare without a publicly announced replacement while acquisition discussions continue in the background.

Singh joined DealShare as president in December 2022 and became CEO in January 2024, taking charge as the company tried to revive its value-commerce model. Before that, he spent nearly 15 years with Big Bazaar. His exit had been expected after Inc42 reported last month that he was serving his notice period. CFO Ashish Shah is also reportedly exploring an exit.

The leadership churn comes after a much deeper restructuring of DealShare itself. All four members of its founding team had exited by 2024. In April this year, the startup began scaling back online operations and later stopped fulfilling orders from its warehouses, effectively ending its two-hour delivery model. Its app remains available, but Inc42 reported that the online business has fallen to almost negligible levels. Physical stores continue to operate, although further offline expansion has been paused.

At the same time, DealShare is reportedly in advanced discussions with Truemeds over a possible share-swap acquisition that could value the company at just over $90 million. The transaction has not been finalised, and some existing Truemeds investors are reportedly not aligned with the proposal. DealShare is also said to be speaking with other potential buyers.

That potential valuation would be a dramatic reset from DealShare’s $1.7 billion peak in 2022. The startup has raised nearly $400 million from investors including WestBridge, Z47, Tiger Global and Alpha Wave. FY25 operating revenue fell to ₹432.4 crore from ₹499 crore, while net loss narrowed to ₹87.7 crore from ₹167.7 crore. With the CEO gone, founders already out and ownership talks still unresolved, DealShare’s next chapter may now depend less on another turnaround plan — and more on who eventually takes control of the business.