FirstCry explained
| FirstCry |
| Type: | Public |
| Founders: | - Supam Maheshwari
- Amitava Saha
|
| Area Served: | India |
| Num Employees: | 2,000+ (2021) |
| Industry: | |
| Location: | Pune, Maharashtra, India |
| Services: | Online shopping |
| Key People: | Supam Maheshwari (CEO) |
| Revenue: | (FY24) |
| Net Income: | (FY24)[1] |
| Parent: | BrainBees Solutions Ltd |
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.[2]
History
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.[3] [4]
In 2013, FirstCry launched its private label clothing brand called BabyHug.[3] [5] In 2015, the company reported having distribution partnerships with over 5,000 hospitals.[6]
In 2016, FirstCry acquired BabyOye, owned by the Mahindra Group, for in a stock swap transaction. The merged entity had over 300 stores and did business under the name "FirstCry.com - a FirstCry Mahindra Venture".[7] [8] [9]
In 2019, the company acquired playschool company Oi Playschool.[10]
Funding
FirstCry raised $4 million in funding from SAIF Partners in April 2011,[11] followed by $14 million from IDG Ventures and SAIF Partners in February 2012.[12]
In January 2014, FirstCry raised $15 million led by Vertex Venture Holdings, a subsidiary of Temasek Holdings.[13] 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.[14]
Between 2019 and 2020, FirstCry raised $400 million from SoftBank in its series E round of financing.[15]
In 2021, FirstCry raised 95 crore ($13 million) in an equity funding round from pi Ventures.[16]
Notes and References
- News: Manchanda . Kunal . FirstCry FY24 revenue crosses Rs 6,500 Cr; GlobalBees contributes 18.6% . 27 December 2023 . Entrackr . 31 July 2024.
- News: FirstCry files IPO papers to raise Rs 1,816 crore. SoftBank, Mahindra & Mahindra to sell stake . 8 January 2024 . Economic Times.
- News: FirstCry: Child’s play . 14 August 2024 . Fortune India . 9 May 2015 . en.
- News: Dey . Sudipto . Wide reach, low cash-burn help Firstcry rule baby care space . 9 January 2024 . Business Standard. 28 September 2013.
- News: Ganguly . Payal . Firstcry.com's offline store count reaches 100-mark . 14 August 2024 . The Economic Times . 19 November 2014.
- News: FirstCry to introduce same-day delivery across 15 cities . 14 August 2024 . Business Standard . 8 May 2015.
- News: Chanchani. Madhav. Firstcry acquires Mahindra's baby care franchisee business for Rs 362 crore. 2016-10-15. The Economic Times. 2020-03-14.
- Web site: FirstCry, Mahindra Retail consolidate business. 15 October 2016. @businessline. en. 2020-03-14.
- Web site: FirstCry buys Mahindra's BabyOye for Rs362.1 crore. Chakraborty. Sayan. 2016-10-15. Livemint. en. 2020-03-14.
- Web site: SoftBank-backed FirstCry acquires playschool chain Oi. Chanchani. Madhav. 29 November 2019. The Times of India. en. 2020-03-14.
- News: FirstCry.com Raises $4M From SAIF Partners . 14 August 2024 . Techcircle . 26 April 2011 . en.
- News: FirstCry Grabs $14M In Series B Round Led By IDG Ventures & Joined By SAIF . 14 August 2024 . Techcircle . 12 February 2012 . en.
- News: Indian kids e-store FirstCry gets $15 million in fresh funding . 14 August 2024 . Tech in Asia.
- News: Firstcry Closes Its Series D Round At $36 Mn With Additional $10 Mn, Plans To Boost Its Private Label Brand BabyHug . 14 August 2024 . Inc42 Media . 8 April 2015 . en.
- News: Mohapatra. Debasis. Firstcry secures around $400 mn from Softbank as part of series-E funding. 2020-02-19. Business Standard India. 2020-03-14.
- News: Bhalla . Kritti . Exclusive: Firstcry Valuation Close To $2 Bn After $13 Mn Round . Inc42 Media . 29 March 2021 . en.
