India, Sept. 17 -- "DealShare is today an empty vessel with $90 Mn in cash." That's how an investor who is aware of the company's financial status, describes the startup.

Once valued at $1.7 Bn, this is what DealShare has been reduced to, and the company is actively looking for a potential acquirer, with many names reportedly close to acquiring it at a 95%-plus haircut.

Truemeds is said to be one such suitor but the proposed acquisition is not a done deal yet, according to another investor aware of the development.

Active discussions are ongoing, but Truemeds' existing investors are not necessarily aligned with the deal. DealShare is also in talks with other potential buyers, the investors added.

Captain Fresh is another name that had...