Limeroad
The business, the turning points, and the decisions behind them.
Some sections are still being researched2 / 4
Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
LimeRoad was a Gurgaon-based Indian social commerce fashion marketplace founded in 2012 by Suchi Mukherjee, Manish Saksena and Ankush Mehra. Its 'Scrapbook' feature let users create and share personalized fashion looks, building a community around fresh unbranded styles and content. It served 1.7 crore value shoppers (65% women, strong in the Rs. 500-1,000 price band) and raised about $50 million from investors including Tiger Global, Matrix Partners and Lightspeed. After revenue shrank from Rs. 179.95 crore in FY20 to Rs. 69.31 crore in FY22, V-Mart Retail acquired it in October 2022 for Rs. 31.12 crore in a distress sale, planning to invest Rs. 150 crore to scale it as an independent omnichannel unit.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Acquisition
On 17 Oct 2022 V-Mart Retail disclosed an NSE filing to acquire A.M. Marketplaces (LimeRoad) business for Rs 31.12 crore cash (plus assumed liabilities). Entrackr and Inc42 explicitly labeled the deal a distress sale after LimeRoad raised ~$50M and struggled to raise new capital; revenue had fallen to Rs 69.31 crore in FY22 from Rs 179.95 crore in FY20.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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