FirstCry
{{Short description|Indian e-commerce company}}
{{Use dmy dates|date=May 2021}}
{{Use Indian English|date=May 2021}}
{{Infobox company
| name = FirstCry
| logo = FirstCry_logo.png
| logo_size = 220px
| logo_caption =
| caption =
| type = Public
| traded_as = {{ubl|{{NSE|FIRSTCRY}}|{{BSE|544226}}}}
| founded = {{start date and age|2010|11}}
| founders = {{plainlist|
- Supam Maheshwari
- Amitava Saha}}
| area_served = India
Middle East
| num_employees = 2,000+ (2021)
| industry = Consumer goods
| location = Pune, Maharashtra, India
| services =
| key_people = Supam Maheshwari {{small|(CEO)}}
| revenue = {{increase}} {{INRConvert|6481|c}} (FY24)
| net_income = {{positive decrease}} {{INRConvert|-321|c}} (FY24){{cite news |last1=Manchanda |first1=Kunal |title=FirstCry FY24 revenue crosses Rs 6,500 Cr; GlobalBees contributes 18.6% |url=https://entrackr.com/2024/07/firstcry-fy24-revenue-crosses-rs-6500-cr-globalbees-contributes-18-6/ |access-date=27 December 2023 |work=Entrackr |date=31 July 2024}}
| owners = {{nowrap|{{ubl|SoftBank (25.5%)|Mahindra & Mahindra (10.98%)|Premji Invest (10.36%){{cite news |last1=Kashyap |first1=Hemant |title=FirstCry DRHP: A Deep Dive Into The Shareholding Pattern & People At The Helm |url=https://inc42.com/buzz/firstcry-drhp-deep-dive-shareholding-pattern-people-helm/ |access-date=31 July 2024 |work=Inc42 Media |date=30 December 2023 |language=en}}}}}}
| subsid =
| parent =
| website = {{URL|www.firstcry.com}}
}}
BrainBees Solutions Limited, d/b/a FirstCry, is an Indian multinational retail company focused on infant, maternity and children's products. The company was founded in 2010 and is headquartered in Pune. It sells products through its website, mobile app and over 1,000 stores, which operate under FirstCry and BabyHug brands.{{cite news |title= FirstCry refiles IPO papers, reports December revenue at Rs 4,841 crore |url=https://economictimes.indiatimes.com/tech/technology/firstcry-refiles-ipo-papers-reports-december-revenue-at-rs-4841-crore/articleshow/109714012.cms |access-date=15 November 2024 |work=The Economic Times}}
FirstCry debuted on the Bombay Stock Exchange and National Stock Exchange on August 13, 2024, following a successful initial public offering.
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 Tier-2 and Tier-3 cities and towns.{{cite news |last1=Dey |first1=Sudipto |title=Wide reach, low cash-burn help Firstcry rule baby care space |url=https://www.business-standard.com/article/companies/wide-reach-low-cash-burn-help-firstcry-rule-baby-care-space-113092800026_1.html |access-date=9 January 2024 |work=Business Standard|date=28 September 2013}}{{cite news |title=FirstCry: Child's play |url=https://www.fortuneindia.com/investing/firstcry-childs-play-/100413 |access-date=14 August 2024 |work=Fortune India |date=9 May 2015 |language=en}}
In 2013, FirstCry launched its private label clothing brand called BabyHug.{{cite news |last1=Ganguly |first1=Payal |title=Firstcry.com's offline store count reaches 100-mark |url=https://economictimes.indiatimes.com/industry/services/retail/firstcry-coms-offline-store-count-reaches-100-mark/articleshow/45207314.cms |access-date=14 August 2024 |work=The Economic Times |date=19 November 2014}} In 2015, the company reported having distribution partnerships with over 5,000 hospitals.{{cite news |title=FirstCry to introduce same-day delivery across 15 cities |url=https://www.business-standard.com/article/companies/firstcry-to-introduce-same-day-delivery-across-15-cities-115050801419_1.html |access-date=14 August 2024 |work=Business Standard |date=8 May 2015}}
In 2016, FirstCry acquired BabyOye, owned by the Mahindra Group, for {{INRConvert|362|c|lk=on|mode=historical|year=2016}} in a stock swap transaction. The merged entity had over 300 stores and did business under the name "FirstCry.com - a FirstCry Mahindra Venture".{{Cite news|last=Chanchani|first=Madhav|url=https://economictimes.indiatimes.com/small-biz/startups/firstcry-acquires-mahindras-baby-care-franchisee-business-for-rs-362-crore/articleshow/54868369.cms|title=Firstcry acquires Mahindra's baby care franchisee business for Rs 362 crore|date=2016-10-15|work=The Economic Times|access-date=2020-03-14}}{{Cite web|url=https://www.thehindubusinessline.com/companies/firstcry-mahindra-retail-consolidate-business/article9224266.ece|title=FirstCry, Mahindra Retail consolidate business|last=|first=|date=15 October 2016|website=@businessline|language=en|archive-url=|archive-date=|access-date=2020-03-14}}{{Cite web|url=https://www.livemint.com/Companies/3lBpyHYzkPSlSNrAEzF0IN/Mahindra-sells-BabyOye-to-FirstCry-for-Rs3621-crore.html|title=FirstCry buys Mahindra's BabyOye for Rs362.1 crore|last=Chakraborty|first=Sayan|date=2016-10-15|website=Livemint|language=en|access-date=2020-03-14}}
In 2019, the company acquired playschool company Oi Playschool.{{Cite web|url=https://timesofindia.indiatimes.com/business/india-business/softbank-backed-firstcry-acquires-playschool-chain-oi/articleshow/72285799.cms|title=SoftBank-backed FirstCry acquires playschool chain Oi|last=Chanchani|first=Madhav|date=29 November 2019|website=The Times of India|language=en|archive-url=|archive-date=|access-date=2020-03-14}}
FirstCry began operating in the United Arab Emirates in 2019 and Saudi Arabia in 2022.{{cite news |title=FirstCry to raise ₹4,194 cr via IPO at price band of ₹440-465; issue to open on Aug 6 |url=https://www.fortuneindia.com/investing/firstcry-to-raise-4194-cr-via-ipo-at-price-band-of-440-465-issue-to-open-on-aug-6/117855 |access-date=15 November 2024 |work=Fortune India |date=5 June 2024 |language=en}}
Funding
FirstCry raised $4 million in funding from SAIF Partners in April 2011,{{cite news |title=FirstCry.com Raises $4M From SAIF Partners |url=https://www.techcircle.in/2011/04/26/firstcry-com-raises-4m-from-saif-partners |access-date=14 August 2024 |work=Techcircle |date=26 April 2011 |language=en}} followed by $14 million from IDG Ventures and SAIF Partners in February 2012.{{cite news |title=FirstCry Grabs $14M In Series B Round Led By IDG Ventures & Joined By SAIF |url=https://www.techcircle.in/2012/02/13/firstcry-grabs-14m-in-series-b-round-led-by-idg-ventures-joined-by-saif |access-date=14 August 2024 |work=Techcircle |date=12 February 2012 |language=en}}
In January 2014, FirstCry raised $15 million led by Vertex Venture Holdings, a subsidiary of Temasek Holdings.{{cite news |title=Indian kids e-store FirstCry gets $15 million in fresh funding |url=https://www.techinasia.com/india-kids-products-estore-firstcry-gets-series-c-funding |access-date=14 August 2024 |work=Tech in Asia}} 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.{{cite news |title=Firstcry Closes Its Series D Round At $36 Mn With Additional $10 Mn, Plans To Boost Its Private Label Brand BabyHug |url=https://inc42.com/buzz/firstcry-closes-its-series-d-round-at-36-mn-with-additional-10-mn-plans-to-boost-its-private-label-brand-babyhug/ |access-date=14 August 2024 |work=Inc42 Media |date=8 April 2015 |language=en}}
Between 2019 and 2020, FirstCry raised $400 million from SoftBank in its series E round of financing.{{Cite news|last=Mohapatra|first=Debasis|url=https://www.business-standard.com/article/companies/firstcry-secures-around-400-mn-from-softbank-as-part-of-series-e-funding-120021901299_1.html|title=Firstcry secures around $400 mn from Softbank as part of series-E funding|date=2020-02-19|work=Business Standard India|access-date=2020-03-14}}
In 2021, FirstCry raised {{INR}}95 crore ($13 million) in an equity funding round from pi Ventures.{{cite news |last1=Bhalla |first1=Kritti |title=Exclusive: Firstcry Valuation Close To $2 Bn After $13 Mn Round |url=https://inc42.com/buzz/exclusive-firstcry-valuation-close-to-2-bn-after-13-mn-round/ |work=Inc42 Media |date=29 March 2021 |language=en}}
References
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