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Daman Soni joins AstroTalk after exit from GlobalBees

EntrackrEntrackr · 6m ago
Daman Soni joins AstroTalk after exit from GlobalBees
Medial

Daman Soni joins AstroTalk after exit from GlobalBees Daman Soni, former President and Chief Business Officer of e-commerce roll-up company GlobalBees, has joined AstroTalk as CBO (e-commerce), sources familiar with the development told Entrackr. At GlobalBees, Soni played a key role in scaling the company’s business operations and driving marketing efforts for its portfolio brands. Notably, GlobalBees achieved unicorn status during his tenure. Prior to GlobalBees, Soni served as Vice President of the Growth division at boAt. He also had brief stints at WeCash, Milkbasket, and MobiKwik. According to sources, Daman Soni is overseeing AstroTalk’s e-commerce and direct-to-consumer (D2C) business. The Noida-based firm launched the Astrotalk Store late last year, offering gemstones and healing stones that astrologers charge with ‘positive mantras and chants.’ The company is now aiming to reach Rs 100 crore in annual recurring revenue (ARR) this month. Confirming the development to Entrackr, ⁠Anmol Jain, Cofounder & CBO, Astrotalk said, "We are thrilled to welcome Damandeep Singh Soni as the head of our e-commerce vertical. After building a Rs 1400+ crore ARR business in astrology consultations, our customers expressed a growing need for a trusted source for all their spiritual product purchases. With Daman’s extensive experience in scaling e-commerce businesses, we are confident and bullish about transforming this vertical into another Rs 1,000 crore ARR business in the coming years." AstroTalk, which is also planning an initial public offering in a year or two, elevated Anmol Jain to co-founder in late 2023 and appointed former Google executive Siddharth Prakash as Chief Technical Officer (CTO) in November 2023. AstroTalk saw strong growth in FY24, with revenue soaring 2.3X to Rs 651.12 crore and profit jumping 11.8X to Rs 99.99 crore. The firm aims to double revenue to Rs 1,250 crore in FY25 and targeting an operating profit of Rs 230-250 crore.

Related News

Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over

EntrackrEntrackr · 4m ago
Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over
Medial

Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over According to a regulatory filing, Agarwal officially ceased to be a director of Globalbees and a senior management personnel of Brainbees Solutions as of April 24. Brainbees Solutions Limited, the parent company of FirstCry, has announced a key leadership change at its subsidiary, Globalbees Brands Private Limited. Nitin Agarwal, who served as the CEO and director of Globalbees Brands, has stepped down from his role due to personal reasons. According to a regulatory filing, Agarwal officially ceased to be a director of Globalbees and a senior management personnel of Brainbees Solutions as of April 24. He will, however, support transition activities until May 23, 2025. Stepping into the role is Anuj Jain, who has been appointed as the new CEO of Globalbees Brands and designated as a senior management personnel of the company. Jain currently serves as the chief business officer (CBO) of FirstCry’s pre-school segment and senior vice president of marketing. A part of the company’s leadership team since July 2012, Jain brings over 23 years of industry experience, having previously worked at ITC and L'Oréal. E-commerce roll-up firm GlobalBees last raised $18 million in a debt round from Avendus in February 2024. To date, the company has secured over $270 million in funding, including a $111 million Series B round in December 2021, which propelled it to unicorn status. In FY24, the FirstCry group recorded a 15% year-on-year increase in revenue from operations to Rs 6,481 crore, with GlobalBees contributing Rs 1,209 crore to the group’s total revenue.

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