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Supam Maheshwari: The FirstCry Founder Revolutionizing Baby and Kids Products E-commerce
When Supam Maheshwari became a father, he realized the challenges of finding quality baby products in India. The limited availability of international brands and the inconvenience of shopping for baby products inspired him to create a dedicated platform that would offer a wide range of baby and kids’ products under one roof. This personal experience would eventually lead to the creation of FirstCry, India’s largest baby and kids products e-commerce platform.
From Engineering Excellence to Entrepreneurial Success
Supam Maheshwari’s educational journey is marked by prestigious institutions and a strong foundation in engineering and management. He began his academic career at Apeejay School, where he completed his early education. Following this, he pursued a Bachelor of Engineering in Mechanical Engineering from Delhi College of Engineering, graduating in 1995. To further hone his business acumen, Maheshwari attended the Indian Institute of Management Ahmedabad, earning a Post Graduate Diploma in Management (PGDM) between 1995 and 1997.
Before founding FirstCry, he first established a company called Brainvisa Technologies, with its co-founder Amitava Saha. However, the venture was sold and thereafter, he launched FirstCry through BrainBees. The company quickly rose to prominence in the e-learning sector and was acquired by US-based Indecomm Global in 2007 for $25 million.
Building the FirstCry Empire
In 2010, Maheshwari launched FirstCry with the aim of making parenting easier by providing easy access to a vast array of baby care products. The platform started as an online store but quickly expanded to include physical retail outlets, creating a robust omnichannel presence.
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.
Strategic Growth and Acquisitions
Under Maheshwari’s leadership, FirstCry has pursued aggressive expansion through strategic acquisitions. In 2016, FirstCry acquired BabyOye, owned by the Mahindra Group, for ₹362 crore (US$53.87 million) in a stock swap transaction. In 2019, the company acquired playschool company Oi Playschool, marking its entry into the education sector.
The company has also built strong partnerships across the healthcare ecosystem. In 2015, the company reported having distribution partnerships with over 5,000 hospitals, positioning FirstCry as an integral part of the new parent journey.
Record-Breaking Success and Market Leadership
In the fiscal year 2022, FirstCry reported operating revenues surpassing Rs 2400 crore, reflecting substantial growth. FirstCry’s success continues to grow, now valued at $2.7 billion (Rs 22,000 crore) following a $315 million investment led by Wipro’s Azim Premji Investment.
Recognized as India’s highest-paid founder, Supam Maheshwari’s annual earnings exceeded Rs 200 crore in FY23, according to Inc42’s Startup Founder Salaries Tracker. FirstCry debuted on the Bombay Stock Exchange and National Stock Exchange on August 13, 2024, following a successful initial public offering.
Global Expansion and Future Vision
FirstCry’s reach extends beyond India’s borders. FirstCry began operating in the United Arab Emirates in 2019 and Saudi Arabia in 2022, demonstrating Maheshwari’s vision for global expansion in the baby and kids products market.
As of 2024, Supam Maheshwari’s net worth is estimated to be around $600 million, primarily driven by his stake in FirstCry. His success story exemplifies how understanding customer pain points and building comprehensive solutions can create market-leading businesses in the baby and kids products e-commerce space.
