About Letsbuy
Letsbuy is a company based in Bengaluru (India) founded in 2009 by Vinod Nangia, Inder Kumar Dhingra, Dinesh Nangia, Meenu Khattar, Vijay Nangia, and Rajesh Khattar was acquired by Flipkart in February 2012.. Letsbuy has raised $6 million across 2 funding rounds from investors including Flipkart, Accel and Helion Venture Partners. Letsbuy operates in a competitive market with competitors including Newegg, Digicartz, AskmeA2Z, GearWale and Choosemychoice, among others.
- Headquarter Bengaluru, India
- Founders Vinod Nangia, Inder Kumar Dhingra, Dinesh Nangia, Meenu Khattar, Vijay Nangia, Rajesh Khattar
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Sectors
Retail
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Etree Marketing Private Limited
- Date of Incorporation 22 May, 2009
- Jurisdiction New Delhi, Delhi, India
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Annual Revenue
$0 (USD)0as on Mar 31, 2018
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Net Profit
$-127.09 (USD)-2.61as on Mar 31, 2018
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EBITDA
$-127.09 (USD)-2.61as on Mar 31, 2018
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Total Equity Funding
$6 M (USD)
in 2 rounds
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Latest Funding Round
$6 M (USD), Series A
Jan 17, 2011
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Investors
Flipkart
& 3 more
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Employee Count
Employee Count
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Acquired by
Flipkart
(Feb 09, 2012)
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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 Total Funding
- Total Rounds 2
- Last Round Series A — $6.0M
- First Round First Round
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2011 | Amount | Series A - Letsbuy | Valuation | Helion Venture Partners , Accel |
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| May, 2010 | Amount | Angel Round - Letsbuy | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early to late-stage venture capital is invested in Indian sectors.
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Founded Year | Domain | Location | |
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Accel is recognized as a leading venture capital firm.
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Founded Year | Domain | Location | |
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Venture and private equity investments are managed with global diversification.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Letsbuy
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Letsbuy
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Letsbuy Comparisons
Competitors of Letsbuy
Letsbuy operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Newegg, Digicartz, AskmeA2Z, GearWale and Choosemychoice, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multi-category electronic products are sold via an online marketplace.
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| domain | founded_year | HQ Location |
An online platform offering a wide range of consumer electronic products.
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| domain | founded_year | HQ Location |
Online platform for buying electronics, fashion, and home appliances.
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| domain | founded_year | HQ Location |
Online store selling smartphone accessories such as covers and tempered glass.
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| domain | founded_year | HQ Location |
Online platform selling electronics, accessories, and groceries to consumers.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Letsbuy
When was Letsbuy founded?
Letsbuy was founded in 2009 and raised its 1st funding round 1 year after it was founded.
Where is Letsbuy located?
Letsbuy is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Is Letsbuy a funded company?
Letsbuy is a funded company, having raised a total of $6M across 2 funding rounds to date.
What does Letsbuy do?
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.
Who are the top competitors of Letsbuy?
Who are Letsbuy's investors?
Letsbuy has 4 investors. Key investors include Flipkart, Accel, Helion Venture Partners, and Tiger Global.