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FirstCry

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FirstCry
Company typePublic
Industry
FoundedNovember 2010; 13 years ago (2010-11)
Founders
  • Supam Maheshwari
  • Amitava Saha[1]
HeadquartersPune, Maharashtra, India
Area served
India
Key people
Supam Maheshwari (CEO)
ServicesOnline shopping
RevenueIncrease ₹6,481 crore (US$780 million) (FY24)[2]
Positive decrease ₹−321 crore (US$−38 million) (FY24)[2]
Owners
Number of employees
2,000 (2021)
ParentBrainBees Solutions Ltd
Websitewww.firstcry.com

FirstCry is an Indian e-commerce company focused on baby products retailing. The company was started in 2010 and is headquartered in Pune. As of June 2023, the company had over 900 brick-and-mortar stores of FirstCry and BabyHug across India.[4]

FirstCry debuted on the Bombay Stock Exchange and National Stock Exchange on August 13, 2024, following a successful initial public offering.

History

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In November 2010, Supam Maheshwari and Amitava Saha launched FirstCry.com as an online retailer of babycare, maternity care and kids products. In 2011, the company entered offline retail through franchise-owned stores, starting from smaller towns.[5][1]

In 2013, FirstCry launched its private label clothing brand called BabyHug.[5][6] In 2015, the company reported having distribution partnerships with over 5,000 hospitals.[7]

In 2016, FirstCry acquired BabyOye, owned by the Mahindra Group, for ₹362 crore (US$53.87 million) in a stock swap transaction. The merged entity had over 300 stores and did business under the name "FirstCry.com - a FirstCry Mahindra Venture".[8][9][10]

In 2019, the company acquired playschool company Oi Playschool.[11]

Funding

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FirstCry raised $4 million in funding from SAIF Partners in April 2011,[12] followed by $14 million from IDG Ventures and SAIF Partners in February 2012.[13]

In January 2014, FirstCry raised $15 million led by Vertex Venture Holdings, a subsidiary of Temasek Holdings.[14] It closed its Series D round of funding of $36 million in April 2015, with investments from New Enterprise Associates, Valiant Capital Partners and existing investors.[15]

Between 2019 and 2020, FirstCry raised $400 million from SoftBank in its series E round of financing.[16]

In 2021, FirstCry raised ₹95 crore ($13 million) in an equity funding round from pi Ventures.[17]

References

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  1. ^ a b Dey, Sudipto (28 September 2013). "Wide reach, low cash-burn help Firstcry rule baby care space". Business Standard. Retrieved 9 January 2024.
  2. ^ a b Manchanda, Kunal (31 July 2024). "FirstCry FY24 revenue crosses Rs 6,500 Cr; GlobalBees contributes 18.6%". Entrackr. Retrieved 27 December 2023.
  3. ^ Kashyap, Hemant (30 December 2023). "FirstCry DRHP: A Deep Dive Into The Shareholding Pattern & People At The Helm". Inc42 Media. Retrieved 31 July 2024.
  4. ^ "FirstCry files IPO papers to raise Rs 1,816 crore. SoftBank, Mahindra & Mahindra to sell stake". Economic Times. Retrieved 8 January 2024.
  5. ^ a b "FirstCry: Child's play". Fortune India. 9 May 2015. Retrieved 14 August 2024.
  6. ^ Ganguly, Payal (19 November 2014). "Firstcry.com's offline store count reaches 100-mark". The Economic Times. Retrieved 14 August 2024.
  7. ^ "FirstCry to introduce same-day delivery across 15 cities". Business Standard. 8 May 2015. Retrieved 14 August 2024.
  8. ^ Chanchani, Madhav (15 October 2016). "Firstcry acquires Mahindra's baby care franchisee business for Rs 362 crore". The Economic Times. Retrieved 14 March 2020.
  9. ^ "FirstCry, Mahindra Retail consolidate business". @businessline. 15 October 2016. Retrieved 14 March 2020.
  10. ^ Chakraborty, Sayan (15 October 2016). "FirstCry buys Mahindra's BabyOye for Rs362.1 crore". Livemint. Retrieved 14 March 2020.
  11. ^ Chanchani, Madhav (29 November 2019). "SoftBank-backed FirstCry acquires playschool chain Oi". The Times of India. Retrieved 14 March 2020.
  12. ^ "FirstCry.com Raises $4M From SAIF Partners". Techcircle. 26 April 2011. Retrieved 14 August 2024.
  13. ^ "FirstCry Grabs $14M In Series B Round Led By IDG Ventures & Joined By SAIF". Techcircle. 12 February 2012. Retrieved 14 August 2024.
  14. ^ "Indian kids e-store FirstCry gets $15 million in fresh funding". Tech in Asia. Retrieved 14 August 2024.
  15. ^ "Firstcry Closes Its Series D Round At $36 Mn With Additional $10 Mn, Plans To Boost Its Private Label Brand BabyHug". Inc42 Media. 8 April 2015. Retrieved 14 August 2024.
  16. ^ Mohapatra, Debasis (19 February 2020). "Firstcry secures around $400 mn from Softbank as part of series-E funding". Business Standard India. Retrieved 14 March 2020.
  17. ^ Bhalla, Kritti (29 March 2021). "Exclusive: Firstcry Valuation Close To $2 Bn After $13 Mn Round". Inc42 Media.
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