Yebhi which raised $20 million Series C funding led by Fidelity Growth Partners India (FGPI) and Qualcomm Ventures (QV) has let go of its ecommerce business and is now a coupon aggregator of other ecommerce players.
Yebhi had also raised a bridge round in 2013 and pivoted to a marketplace model. The company bagged the much talked about IRCTC’s ecommerce contract. But unfortunately, IRCTC too shut down its ecommerce business.
Yebhi in total raised more than $41mn from investors (including Catmaran, Qualcomm, Nexus Venture Partners) and being an aggregator now translates to a mere affiliate money.
We really wonder what’s the point in running Yebhi as-an-aggreagtor and why don’t they just merge with one of the bigger entities?