Supam Maheshwari studied mechanical engineering at Delhi College of Engineering and then did a PGDM at IIM Ahmedabad. In 2000 he and Amitava Saha started the e-learning company Brainvisa Technologies. It was sold to Indecomm Global in 2007.
In 2010, as a new father, Maheshwari carried diapers, clothes and toys home in suitcases because quality baby products were hard to find in India. FirstCry.com launched in Pune in November 2010. At that time about 90 percent of baby products were sold offline, and few Indians trusted a website for baby goods.
SAIF Partners invested $4 million in April 2011. FirstCry opened its first franchise stores in 2011 and launched its BabyHug private label in 2013. In 2016 it bought BabyOye from the Mahindra group for Rs 362 crore in a stock swap. SoftBank led a round of about $400 million in 2019 and 2020.
FirstCry listed on the NSE and BSE on 13 August 2024. In FY24 it reported revenue of Rs 6,481 crore and a net loss of Rs 321 crore. In the second quarter of FY26 the net loss narrowed to Rs 50.5 crore on revenue of Rs 2,099 crore.