FirstCry
 | |
| Company type | Public |
|---|---|
| Industry | Consumer goods |
| Founded | November 2010 |
| Founders |
|
| Headquarters | Pune, Maharashtra, India |
Area served | India |
Key people | Supam Maheshwari (CEO) |
| Revenue |  ₹6,481 crore (US$780 million) (FY24)[2] |
 ₹−321 crore (US$−38 million) (FY24)[2] | |
| Owners |
|
Number of employees | 2,000+ (2021) |
| Website | www |
BrainBees Solutions Limited (d/b/a FirstCry) is an Indian company focused on Infant clothing and products. The company was founded in 2010 and is headquartered in Pune. It sells products through its website, mobile app and over 900 stores. It operates under two brands; FirstCry and BabyHug. [4]
FirstCry debuted on the Bombay Stock Exchange and National Stock Exchange on August 13, 2024, following a successful initial public offering.
History
[edit]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
[edit]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
[edit]- ^ a b Dey, Sudipto (28 September 2013). "Wide reach, low cash-burn help Firstcry rule baby care space". Business Standard. Retrieved 9 January 2024.
- ^ a b Manchanda, Kunal (31 July 2024). "FirstCry FY24 revenue crosses Rs 6,500 Cr; GlobalBees contributes 18.6%". Entrackr. Retrieved 27 December 2023.
- ^ Kashyap, Hemant (30 December 2023). "FirstCry DRHP: A Deep Dive Into The Shareholding Pattern & People At The Helm". Inc42 Media. Retrieved 31 July 2024.
- ^ "FirstCry files IPO papers to raise Rs 1,816 crore. SoftBank, Mahindra & Mahindra to sell stake". Economic Times. Retrieved 8 January 2024.
- ^ a b "FirstCry: Child's play". Fortune India. 9 May 2015. Retrieved 14 August 2024.
- ^ Ganguly, Payal (19 November 2014). "Firstcry.com's offline store count reaches 100-mark". The Economic Times. Retrieved 14 August 2024.
- ^ "FirstCry to introduce same-day delivery across 15 cities". Business Standard. 8 May 2015. Retrieved 14 August 2024.
- ^ Chanchani, Madhav (15 October 2016). "Firstcry acquires Mahindra's baby care franchisee business for Rs 362 crore". The Economic Times. Retrieved 14 March 2020.
- ^ "FirstCry, Mahindra Retail consolidate business". @businessline. 15 October 2016. Retrieved 14 March 2020.
- ^ Chakraborty, Sayan (15 October 2016). "FirstCry buys Mahindra's BabyOye for Rs362.1 crore". Livemint. Retrieved 14 March 2020.
- ^ Chanchani, Madhav (29 November 2019). "SoftBank-backed FirstCry acquires playschool chain Oi". The Times of India. Retrieved 14 March 2020.
- ^ "FirstCry.com Raises $4M From SAIF Partners". Techcircle. 26 April 2011. Retrieved 14 August 2024.
- ^ "FirstCry Grabs $14M In Series B Round Led By IDG Ventures & Joined By SAIF". Techcircle. 12 February 2012. Retrieved 14 August 2024.
- ^ "Indian kids e-store FirstCry gets $15 million in fresh funding". Tech in Asia. Retrieved 14 August 2024.
- ^ "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.
- ^ 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.
- ^ Bhalla, Kritti (29 March 2021). "Exclusive: Firstcry Valuation Close To $2 Bn After $13 Mn Round". Inc42 Media.