About Letsbuy
Letsbuy is a Retail company based in Bengaluru (India) founded in 2009 by Vinod Nangia, Inder Kumar Dhingra, Dinesh Nangia, Meenu Khattar, Vijay Nangia, and Rajesh Khattar, and was acquired by Flipkart in February 2012. Online retailer of consumer electronics. Letsbuy has raised $6 million across 2 funding rounds from investors including Flipkart, Accel and Helion Venture Partners. Its focus areas include Consumer Electronics E-Commerce, Diversified and Retailer. Its legal entity in India is Etree Marketing Private Limited (U52100DL2009PTC190550). Its competitors include Digicartz, AskmeA2Z and GearWale.
Company details
Letsbuy was founded in 2009 in Bengaluru, India, as an online retailer focused on computer technology and digital lifestyle products. Over 5,000 items from major international and domestic brands were offered through direct associations that enabled special deals. Operations centered on e-commerce sales in the consumer electronics sector. The company was acquired by Flipkart in February 2015 for an estimated 20-25 million.
- Headquarters Bengaluru, India
- Founders Vinod Nangia, Inder Kumar Dhingra, Dinesh Nangia, Meenu Khattar, Vijay Nangia, Rajesh Khattar
- Stage Acquired
- SectorsRetail
- Website letsbuy.com
- Social LinkedIn X Facebook
- Acquired by Flipkart (Feb 2012)
- Legal Name Etree Marketing Private Limited
- Date of Incorporation 22 May, 2009
- Jurisdiction New Delhi, Delhi, India
Associated legal entities of Letsbuy
Letsbuy operates through Etree Marketing Private Limited (strike off). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2018) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Etree Marketing Private Limited CIN U52100DL2009PTC190550 | Strike Off | 22 May 2009 | New Delhi, Delhi | 2 | View details |
Funding Insights of Letsbuy
Letsbuy has successfully raised a total of $6M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $6 million completed in January 2011. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $6M
- Total Rounds 2
- Last Round Series A — $6M
- Investors Count 3
All 2 funding rounds of Letsbuy with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan 2011 | $6M | Series A | – | Helion Venture Partners, Accel | – |
| May 2010 | Angel Round | – | – | – |
4 investors in total: 4 institutional.
Investors in Letsbuy
Letsbuy has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include Flipkart, Accel and Helion Venture Partners.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early to late-stage venture capital is invested in Indian sectors. | helionvc.com | Gurugram, India | ||
Accel is recognized as a leading venture capital firm. | 1983 | accel.com | Palo Alto, United States | |
Venture and private equity investments are managed with global diversification. | tigerglobal.com | New York, United States | ||
Multi-category consumer products are offered via an online marketplace platform. | 2007 | flipkart.com | Bengaluru, India |
Investor details for Letsbuy
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Etree Marketing Private Limited (Letsbuy)
Etree Marketing Private Limited is the primary company behind Letsbuy. The board of Etree Marketing Private Limited currently have 2 directors; the longest-serving is Vijay Nangia, appointed in 2009. 4 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Vijay Nangia DIN 02613041 | Director | 22 May 2009 | 17 yrs 5 mo | Etree Marketing Private Limited |
| Bhisham Bhateja DIN 06399900 | Director | 12 Oct 2012 | 14 yrs 1 mo | Etree Marketing Private Limited |
People of Letsbuy
6 people are tracked at Letsbuy (6 in leadership).
| Name | Role | Group |
|---|---|---|
Vinod Nangia | Co-Founder | Leadership |
Inder Kumar Dhingra | Co-Founder | Leadership |
Dinesh Nangia | Co-Founder | Leadership |
Meenu Khattar | Co-Founder | Leadership |
| Co-Founder | Leadership | |
Rajesh Khattar | Co-Founder | Leadership |
Complete people profiles for Letsbuy
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Letsbuy
Figures of Etree Marketing Private Limited, the primary company behind Letsbuy, for FY 2018. Net loss was -₹8,850 (0% margin). EBITDA was -₹8,850 (0% margin). Revenue has grown at a compounded annual rate of -100% over three years.
- -₹8,850Net loss · 0% margin
- -₹8,850EBITDA · 0% margin
- ₹1 LakhPaid-up capital
- -100%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Etree Marketing Private Limited are on its company page.
Detailed financial statements for Letsbuy
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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- Downloads
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Timeline of Letsbuy
4 dated milestones of Letsbuy across 3 years, from founding to its latest funding, stage changes and deals.
- Founded Letsbuy is founded.
- Funding First funding round.
- Funding Latest funding round, Series A, of $6.0M.
- Exit Acquired by Flipkart.
Competitors of Letsbuy
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| digicartz.com | 2016 | Bengaluru, India | An online platform offering a wide range of consumer electronic products. | |||
| askmea2z.com | 2016 | Nellore, India | Online platform for buying electronics, fashion, and home appliances. | |||
| gearwale.com | 2020 | Lakhisarai, India | Online store selling smartphone accessories such as covers and tempered glass. |
Detailed competitors of Letsbuy
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- Full competitor set
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Web traffic of Letsbuy
Websites that share an audience with Letsbuy (letsbuy.com).
Websites whose visitors overlap most with Letsbuy. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
letsbuyit.com | letsbuyit.com | 100% | – | ||
| futurebazaar.com | 95% | View details | |||
shopping.rediff.com | shopping.rediff.com | 93% | – | ||
| flipkart.com | 90% | 215.3M | #127 | View details | |
shopping.indiatimes.com | shopping.indiatimes.com | 84% | – | ||
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 15 similar websites and full traffic analytics for Letsbuy
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- 15 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
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Top companies in Consumer Electronics E-Commerce
3 companies that operate in the same segment as Letsbuy (Consumer Electronics E-Commerce) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Refurbished and new gadgets are offered through an online marketplace. | 2009 | Gurugram, Haryana, India | USD 130.05 M | USD 99.25 M | 1,264 | |
Metabolic health is tracked via devices and fitness platforms. | 2019 | Bengaluru, Karnataka, India | USD 163.28 M | USD 65.48 M | 274 | |
Personal audio products, wearables, and mobile accessories are retailed. | 2016 | Gurugram, Haryana, India | USD 206 M | USD 346.34 M | 495 |
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Related news about Letsbuy
Complete news archive for Letsbuy
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Frequently Asked Questions about Letsbuy
Letsbuy was founded in 2009 and raised its 1st funding round 1 year after it was founded.
Letsbuy is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Letsbuy is a funded company, having raised a total of $6M across 2 funding rounds to date.
Letsbuy was founded in 2009 in Bengaluru, India, as an online retailer focused on computer technology and digital lifestyle products. Over 5,000 items from major international and domestic brands were offered through direct associations that enabled special deals. Operations centered on e-commerce sales in the consumer electronics sector. The company was acquired by Flipkart in February 2015 for an estimated 20-25 million.
Letsbuy has 4 investors. Key investors include Flipkart, Accel, Helion Venture Partners, and Tiger Global.
Letsbuy operates through Etree Marketing Private Limited.
Yes. Letsbuy was acquired by Flipkart in February 2012.
The legal entities of Letsbuy currently have 2 directors, including Vijay Nangia, Bhisham Bhateja.