LetsBuy.com
India's leading online retailer of gadgets & gizmos – consumer electronics, communications and computer goods..
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor | €0.0 | round | |
| investor | €0.0 | round | |
N/A | Early VC | ||
| Total Funding | 000k | ||
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LetsBuy.com, operating under the legal entity eTree Marketing Pvt. Ltd., was an Indian e-commerce platform specializing in consumer electronics. The company was founded in 2009 by Hitesh Dhingra and Amanpreet Bajaj, along with several other co-founders. Dhingra, who served as the CEO, had prior experience in leadership roles at startups and co-founded Tyroo.com, an advertising network. Bajaj, a web entrepreneur since his college days, had a background in consulting with Ernst & Young.
The platform functioned as an online retailer for a wide array of branded digital and electronic products, including computers, mobile phones, cameras, and consumer electronics. It aimed to serve as a comprehensive destination for customers to research, compare, and purchase gadgets. The business model was centered on earning a commission on each product sold through the website. A key operational strategy was to work directly with manufacturers or their primary distributors and manage its own inventory and shipping from its warehouses. This approach provided control over the supply chain, product quality, and delivery times, and enabled features like cash on delivery.
In January 2011, LetsBuy.com secured $6 million in a Series A funding round led by Helion Venture Partners, Accel Partners, and Tiger Global Management. This investment fueled the company's rapid expansion. By early 2012, the platform offered over 10,000 SKUs from more than 175 brands and was handling a significant volume of daily transactions. In February 2012, LetsBuy.com was acquired by Flipkart for an estimated $25 million in a cash-and-equity deal. At the time of the acquisition, LetsBuy.com was considered the second-largest online electronics retailer in India. Following the acquisition, the LetsBuy.com team, including its founders and over 350 employees, was to continue operating independently while leveraging Flipkart's technology and supply chain infrastructure.
Keywords: LetsBuy.com, eTree Marketing, Hitesh Dhingra, Amanpreet Bajaj, Indian e-commerce, online electronics retailer, consumer electronics, digital lifestyle products, Flipkart acquisition, venture capital, Helion Venture Partners, Accel Partners, Tiger Global Management, online retail India, gadget e-commerce, electronics marketplace, computer hardware online, mobile phones online, camera store online, e-commerce exit