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// Workers AI · dad joke modeWhy did FirstCry go to therapy? It had a lot to cry about.

From Wikipedia, the free encyclopedia

FirstCry
TypePublic
IndustryConsumer goods
FoundedNovember 2010; 15 years ago (2010-11)
Founders
  • Supam Maheshwari
  • Amitava Saha[1]
HeadquartersPune, Maharashtra, India
Area served
India
Middle East
Key peopleSupam Maheshwari (CEO)
RevenueIncrease ₹6,481 crore (US$670 million) (FY24)[2]
Positive decrease ₹−321 crore (US$−33 million) (FY24)[2]
Owners
Number of employees
2,000+ (2021)
Websitewww.firstcry.com

BrainBees Solutions Limited, doing business as FirstCry, is an Indian multinational retail company, focused on infant, maternity and children's products.[1][4] 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.[5]

History

[edit]

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.[1][4]

In 2013, FirstCry launched its private label clothing brand called BabyHug.[4][6] In 2015, the company reported having distribution partnerships with over 5,000 hospitals.[7]

In 2016, FirstCry acquired BabyOye, owned by the Mahindra Group, for ₹362 crore (US$53.87 million) in a stock swap transaction. The merged entity had over 300 stores and did business under the name "FirstCry.com - a FirstCry Mahindra Venture".[8][9][10]

In 2019, the company acquired playschool company Oi Playschool.[11]

FirstCry began operating in the United Arab Emirates in 2019 and Saudi Arabia in 2022.[12]

FirstCry listed on the Bombay Stock Exchange and National Stock Exchange on 13 August 2024, following an initial public offering.[12]

In June 2025, an insolvency plea was filed against FirstCry's subsidiary, GlobalBees, by former stakeholders.[13]

Funding

[edit]

FirstCry raised $4 million in funding from SAIF Partners in April 2011,[14] followed by $14 million from IDG Ventures and SAIF Partners in February 2012.[15]

In January 2014, FirstCry raised $15 million led by Vertex Venture Holdings, a subsidiary of Temasek Holdings.[16] 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.[17]

Between 2019 and 2020, FirstCry raised $400 million from SoftBank in its series E round of financing.[18]

In 2021, FirstCry raised ₹95 crore ($13 million) in an equity funding round from pi Ventures.[19]


References

[edit]
  1. 1 2 3 Dey, Sudipto (28 September 2013). "Wide reach, low cash-burn help Firstcry rule baby care space". Business Standard. Retrieved 9 January 2024.
  2. 1 2 Manchanda, Kunal (31 July 2024). "FirstCry FY24 revenue crosses Rs 6,500 Cr; GlobalBees contributes 18.6%". Entrackr. Retrieved 27 December 2023.
  3. ↑ Kashyap, Hemant (30 December 2023). "FirstCry DRHP: A Deep Dive Into The Shareholding Pattern & People At The Helm". Inc42 Media. Retrieved 31 July 2024.
  4. 1 2 3 "FirstCry: Child's play". Fortune India. 9 May 2015. Retrieved 14 August 2024.
  5. ↑ "FirstCry refiles IPO papers, reports December revenue at Rs 4,841 crore". The Economic Times. Retrieved 15 November 2024.
  6. ↑ Ganguly, Payal (19 November 2014). "Firstcry.com's offline store count reaches 100-mark". The Economic Times. Retrieved 14 August 2024.
  7. ↑ "FirstCry to introduce same-day delivery across 15 cities". Business Standard. 8 May 2015. Retrieved 14 August 2024.
  8. ↑ Chanchani, Madhav (15 October 2016). "Firstcry acquires Mahindra's baby care franchisee business for Rs 362 crore". The Economic Times. Retrieved 14 March 2020.
  9. ↑ "FirstCry, Mahindra Retail consolidate business". @businessline. 15 October 2016. Retrieved 14 March 2020.
  10. ↑ Chakraborty, Sayan (15 October 2016). "FirstCry buys Mahindra's BabyOye for Rs362.1 crore". Livemint. Retrieved 14 March 2020.
  11. ↑ Chanchani, Madhav (29 November 2019). "SoftBank-backed FirstCry acquires playschool chain Oi". The Times of India. Retrieved 14 March 2020.
  12. 1 2 "FirstCry to raise ₹4,194 cr via IPO at price band of ₹440-465; issue to open on Aug 6". Fortune India. 5 June 2024. Retrieved 15 November 2024.
  13. ↑ "Brainbees Solutions Parent Co of FirstCry Shares Fall for 9th Day; Insolvency Plea Filed Against Arm GlobalBees".
  14. ↑ "FirstCry.com Raises $4M From SAIF Partners". Techcircle. 26 April 2011. Retrieved 14 August 2024.
  15. ↑ "FirstCry Grabs $14M In Series B Round Led By IDG Ventures & Joined By SAIF". Techcircle. 12 February 2012. Retrieved 14 August 2024.
  16. ↑ "Indian kids e-store FirstCry gets $15 million in fresh funding". Tech in Asia. Retrieved 14 August 2024.
  17. ↑ "Firstcry Closes Its Series D Round At $36 Mn With Additional $10 Mn, Plans To Boost Its Private Label Brand BabyHug". Inc42 Media. 8 April 2015. Retrieved 14 August 2024.
  18. ↑ Mohapatra, Debasis (19 February 2020). "Firstcry secures around $400 mn from Softbank as part of series-E funding". Business Standard India. Retrieved 14 March 2020.
  19. ↑ Bhalla, Kritti (29 March 2021). "Exclusive: Firstcry Valuation Close To $2 Bn After $13 Mn Round". Inc42 Media.
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