AstroTalk Appoints Damandeep Soni as Chief Business Officer to Boost E-commerce Growth
AstroTalk expands into spiritual e-commerce, hiring ex-GlobalBees executive to lead business operations
AstroTalk, a leading platform for astrology services, has appointed Damandeep Soni as its Chief Business Officer (CBO) to spearhead its e-commerce division. This move comes just months after Soni stepped down from his role as President and CBO at GlobalBees, signaling AstroTalk’s ambitious plans to expand its online presence in the spiritual and astrology-based product market.
Expanding AstroTalk’s E-commerce Footprint
AstroTalk, a startup based in Noida, has already established a solid foundation in astrology consultations, offering services like horoscope readings, birth chart analysis, and live prayers. With the new addition of Soni, the company is set to scale its e-commerce and direct-to-consumer (D2C) offerings.
In 2024, AstroTalk launched its online store, AstroTalk Store, to cater to the increasing demand for spiritual products. The store currently offers a wide range of items, including gemstones, healing stones, and accessories like bracelets. By leveraging Soni’s expertise, AstroTalk aims to turn its e-commerce venture into a major revenue-generating segment, expanding its reach to a larger customer base.
Damandeep Soni’s Expertise to Drive Growth
Damandeep Soni brings extensive experience in scaling e-commerce businesses. At GlobalBees, Soni played a pivotal role in the company’s growth, helping it achieve unicorn status. He also served as Vice President of Growth at boAt and held key positions at WeCash, Milkbasket, and MobiKwik.
Anmol Jain, co-founder of AstroTalk, expressed excitement about Soni’s appointment, saying, “We are thrilled to welcome Damandeep Singh Soni as the head of our e-commerce vertical. After building a Rs 1,400+ crore ARR business in astrology consultations, our customers expressed a growing need for a trusted source for all their spiritual product purchases. With Daman’s extensive experience in scaling e-commerce businesses, we are confident and bullish about transforming this vertical into another Rs 1,000 crore ARR business in the coming years.”
Financial Performance and Ambitious Goals
AstroTalk is rapidly growing its business and is preparing for a potential Initial Public Offering (IPO) in the next one to two years. The company has posted impressive financial results for the fiscal year 2024, with revenues rising to Rs 651.12 crore, up from Rs 283.32 crore the previous year. The company’s profits surged to Rs 99.99 crore, compared to just Rs 8.4 crore in the previous fiscal year.
Looking ahead, AstroTalk aims to nearly double its revenue to Rs 1,250 crore in fiscal 2025. The company is also targeting an operating profit range of Rs 230 crore to Rs 250 crore, reinforcing its ambitious growth strategy.
Conclusion
With Damandeep Soni at the helm of AstroTalk’s e-commerce vertical, the company is poised to scale rapidly and expand its influence in the spiritual products market. As AstroTalk continues to innovate and expand its offerings, it is well-positioned for significant growth in the years to come.
