Unicommerce IPO: Company’s Board Add 5 New Members
Unicommerce IPO
Unicommerce Strengthens Leadership with Board Appointments Ahead of IPO in 2024
Unicommerce, a Software as a Service (SaaS) platform under the umbrella of Snapdeal, is undergoing a transformative phase with strategic appointments to its board.
As the company prepares for an Initial Public Offering (IPO) in 2024, the addition of five distinguished individuals reflects a commitment to bolstering corporate governance and positioning itself for sustained growth in the competitive e-commerce landscape.
Board Appointments:
Manoj Kohli – Industry Stalwart and Former SoftBank India Chief: One of the significant additions to Unicommerce’s board is Manoj Kohli, a seasoned professional renowned for his leadership roles in the telecom sector.
Having served as the Managing Director and CEO of Bharti Airtel, Kohli brings a wealth of industry knowledge and strategic acumen to Unicommerce.
His experience in steering SoftBank India further adds a global perspective to the board, aligning with Unicommerce’s aspirations for broader market reach.
Ullas Kamat – Diversifying Perspectives from Jyoti Labs: Ullas Kamat, associated with Jyoti Labs, has been appointed as an independent director.
His background in a different industry adds a fresh and diversified perspective to Unicommerce’s leadership. Kamat’s experience in navigating challenges in the consumer goods sector could prove invaluable as Unicommerce continues to expand its services to various sectors within the e-commerce ecosystem.
Sayari Chahal – Empowering Women in the Digital Space: Sayari Chahal, the Founder and CEO of Sheroes, joins Unicommerce as an independent director.
Chahal’s entrepreneurial journey and expertise in empowering women in the digital space align with the growing emphasis on diversity and inclusion in corporate leadership.
Her insights can contribute to shaping Unicommerce’s strategies for fostering an inclusive and innovative work culture.
Kunal Bahl and Rohit Bansal – Snapdeal Founders as Non-Executive Directors: The inclusion of Kunal Bahl and Rohit Bansal, the co-founders of Snapdeal, as non-executive directors further solidifies the integration between Unicommerce and its parent company.
This move signifies a collaborative approach, leveraging the synergies between the two entities for mutual growth. Bahl and Bansal, with their entrepreneurial spirit, can provide valuable guidance as Unicommerce navigates the dynamic e-commerce landscape.
Company Overview:
Unicommerce, headquartered in Gurugram, was founded in 2012 and subsequently acquired by Snapdeal in 2015. The SaaS platform specializes in providing end-to-end management solutions for e-commerce operations.
Through a comprehensive suite of SaaS-based technology products, Unicommerce facilitates seamless operations for Direct-to-Consumer (D2C) brands, retail companies, and online sellers.
Notably, SaaS allows users to access software applications through the internet without the need for downloading, streamlining processes akin to widely used tools such as Microsoft Office 365.
Financial Performance:
As Unicommerce positions itself for an IPO in 2024, its recent financial performance underscores its trajectory of growth.
In the fiscal year 2022-23, the company reported a net profit of Rs 8 crore, representing an 8 percent year-on-year increase.
The revenue also demonstrated robust growth, surging by 53 percent to reach Rs 90 crore during the same period.
Projections for the ongoing financial year (2023-24) indicate continued momentum, with Unicommerce aiming for a revenue range of Rs 120-150 crore.
These figures reflect the company’s ability to adapt to the evolving needs of its diverse clientele.
Clientele and Market Position:
Unicommerce boasts an impressive clientele, including prominent e-commerce retailers such as Myntra and Lenskart, beauty and personal care brands like Mamaearth, Sugar, and mCaffeine, as well as leading fashion and electronics brands like TCNS (W, Aurelia), Jack & Jones, Vero Moda, and Boat.
Additionally, the platform serves large-scale FMCG companies, including Marico and Emami.
The strategic additions to the board align with Unicommerce’s commitment to strengthening its market position and delivering enhanced value to its stakeholders.
The company’s ability to cater to a diverse range of industries positions it favorably in a dynamic e-commerce landscape where adaptability and innovation are paramount.
Final Remarks:
In conclusion, Unicommerce’s recent board appointments underscore a strategic approach to leadership as the company prepares for its IPO in 2024.
The addition of seasoned professionals and industry experts enhances the depth and diversity of the board, signaling a commitment to effective governance and sustained growth.
As Unicommerce continues to evolve in the competitive e-commerce sector, these developments position the company for success in its journey towards becoming a publicly listed entity.
Investors and stakeholders are likely to closely monitor Unicommerce’s strategic moves as it navigates the complexities of the market and explores new avenues for expansion and innovation.
