India Quotient-backed social wishlist startup Wishberg shutting down

Mumbai-based Tyched Web Services Pvt Ltd, the company behind the social wishlist platform Wishberg.com, is shutting down, the company announced in a blog post. Its founders including Pravin Jadhav (CEO) and Kulin Shah (COO) are joining online mobile recharge startup FreeCharge, and will lead its product & growth and partnerships & alliances, respectively.

"We set very high goals for us when we raised our first investment in April 2013. Reviewing those goals at the end of the year, we realised that we have trailed behind on a few of them. We will be sunsetting Wishberg in coming days while giving time to our users to go through their accounts and wishes," reads the blog post.

The startup was founded by Jadhav and Shah in December 2011. Jadhav had earlier worked at companies like Ohana Media, Foostor, Rediff.com, and Integreon. He holds a PG degree from SIES College of Management Studies, and BE in mechanical engineering from Sardar Patel College of Engineering, Mumbai. Prior to Wishberg, Shah had worked at Tessolve Services, Reliance Venture Asset Management, Idea Cellular Ltd, Aditya Birla Management Corporation Ltd and Traveljini.com. He holds an MBA degree in Marketing from NMIMS and BMS degree in Management from LS Raheja College, Mumbai.

Started as a social discovery site called Tyche'd, the startup was rebranded to Wishberg in July last year. Wishberg enabled users to discover and share purchase intents, experiences and reviews within their social circle. The platform had high involvement in categories like travel, cars, bikes, gadgets, electronics and real estate.

Last year, the firm had raised $150,000 in funding from early-stage investment firm India Quotient, with participations from angel investors including Vijay Shekhar Sharma, founder and CEO of One97, and Uday Sodhi, CEO of HeadHonchos.

(Edited by Joby Puthuparampil Johnson)