Truemeds Eyes DealShare Acquisition At $90 Million Valuation

Online marketplace DealShare is reportedly in advanced negotiations to be acquired by online pharmacy Truemeds. The proposed transaction is expected to value DealShare at just over $90 million, a steep decline from its peak valuation of $1.7 billion reached in 2022.

Under the terms being discussed, Truemeds would issue its shares to DealShare's investors at a valuation of approximately $600 million. The final details of the share-swap transaction are still being finalized. The proposed valuation is only marginally higher than DealShare's reported cash balance, suggesting the deal focuses on accessing these funds rather than the operating business.

DealShare, founded in 2018, achieved unicorn status in 2022. However, the company faced increased competition and pressure in India's e-commerce sector. In 2023, DealShare ceased its B2B operations and reduced its workforce as part of a restructuring effort to cut costs.

Truemeds, established in 2019, operates an e-pharmacy and has raised over $175 million in funding. The acquisition could allow Truemeds to leverage DealShare's distribution network in smaller cities as it expands its own operations. It remains unclear whether DealShare's existing operations and brand will continue post-acquisition.