Daman Soni Joins AstroTalk as CBO of E-commerce

Daman Soni, previously the President and Chief Business Officer at the e-commerce roll-up firm GlobalBees, has taken on the role of CBO (e-commerce) at AstroTalk, according to sources close to the situation who spoke to Startup Superb. At GlobalBees, Soni was instrumental in expanding the company’s business activities and advancing marketing initiatives for its various brands, contributing to its achievement of unicorn status during his time there.

Before his tenure at GlobalBees, Soni held the position of Vice President in the Growth division at boAt. His career also includes brief roles at WeCash, Milkbasket, and MobiKwik.

Overseeing E-commerce at AstroTalk

Sources indicate that Daman Soni is now leading AstroTalk’s e-commerce and direct-to-consumer (D2C) operations. The Noida-based company launched the Astrotalk Store towards the end of the previous year, which features gemstones and healing stones enhanced with ‘positive mantras and chants’ by astrologers. AstroTalk is now setting its sights on achieving an annual recurring revenue (ARR) of Rs 100 crore this month.

AstroTalk’s Growth Strategy

In a statement to Startup Superb, Anmol Jain, Cofounder & CBO of Astrotalk, expressed excitement about Daman Soni’s appointment, saying that the company greeted him as the leader of their e-commerce segment. After establishing a thriving business with over Rs 1,400 crore ARR in astrology consultations, there has been a clear demand from customers for a reliable source to purchase spiritual products. With Daman’s comprehensive background in scaling e-commerce ventures, the company anticipates evolving this vertical into a Rs 1,000 crore ARR business in upcoming years.

Efforts to reach Soni for comments were met with no immediate replies.

AstroTalk’s Ambitious Plans

AstroTalk is also poised to initiate an initial public offering within the next one to two years. The firm elevated Anmol Jain to co-founder status in late 2023 and appointed ex-Google executive Siddharth Prakash as Chief Technical Officer (CTO) in November 2023.

AstroTalk reported remarkable growth in FY24, with revenues jumping 2.3 times to Rs 651.12 crore and profits rising 11.8 times to Rs 99.99 crore. The firm has set an objective to double its revenue to Rs 1,250 crore in FY25 and is targeting an operating profit range of Rs 230-250 crore.