IPO-bound Zomato’s co-founder and CEO Deepinder Goyal has joined the board of magicpin, as an independent director. Founded by Anshoo Sharma & Brij Bhushan, and backed by Lightspeed Venture Partners, Waterbridge and Samsung, magicpin is India’s #1 savings app that connects hyperlocal merchants and brands with consumers.
Deepinder Goyal joins the existing board and advisors that consist of Bejul Somaia, MD, Lightspeed Venture Partners; Vivek Gambhir, CEO boAt Lifestyle; and Manish Kheterpal, MD, Waterbridge. Since launching in 2016, magicpin today has over 1.5 lakh merchants on the platform, serving 50 lakh consumers across fifty cities. It has also launched the OrderHere platform that enables local merchants to set up their online store within minutes, and serve online customers. magicpin simplifies catalog creation and management for local merchants/brands and offers seamlessly integrated payments and logistics from top logistics providers in India including Shadowfax, Dunzo, Rapido and Loadshare.
Speaking on joining the board, Deepinder Goyal said, “I am delighted to join the magicpin board. They are a high-quality team and I am excited about how they are being a driver of growth for local merchants across categories. I am looking forward to contributing to the company's success.”
Anshoo Sharma, co-founder and CEO of magicpin, said, “We are excited about Deepinder joining our board. He brings a wealth of experience from scaling up Zomato into the tech giant it is today. We are looking forward to his guidance and mentorship as we step into our next phase of growth.”
As lockdown measures ease across the country, magicpin is poised to scale up merchants and brands on its platform for online and in-store demand. It is already driving over USD 1 billion in annual revenues for its existing partners and continues to grow at a rapid pace.
About magicpin:
magicpin is India’s #1 savings app that spans from local merchants to large brands, online and offline. We bring the local market alive on our user’s phone and let people discover and save through our magicpin rewards programme, powered by over 150K partner stores.
magicpin drives over $1B of annual business that covers local merchants and brands like Pantaloons, Lifestyle, Westside, Levis, Jockey, Titan, Fastrack, McDonald’s, CCD, KFC, Pizza Hut, Taco Bell, Flipkart, Boat, Amazon, Samsung, Biba, ITC, Zandu, P&G and many more.
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