Askme.com to invest $20 million in Mebelkart

Askme.com is an app that serves information regarding the locality around a person and runs for all different businesses. It is a close competitor of Just Dial.

Aug 18, 2015 12:08 IST India Infoline News Service

Askme.com, the local search engine, will invest US$20 million to have majority stake in the online furniture market place, Mebelkart.

The process will take place in the next three quarters and is said to be beneficial for both the companies as the sector is highly profitable but fragmented and unorganized at the same time.

Mebelkart employees 30 people in various teams and was founded by three young Indian Institute of Technology (IIT) graduates Rahul Agarwal, Nikhil Saraf and Ranjeet Vimal.

The two companies, at the moment, will continue to work as separate entities but may merge together in the future and scale up operations.

Askme.com is an app that serves information regarding the locality around a person and runs for all different businesses. It is a close competitor of Just Dial.

In May 2015, Askme.com forayed into grocery market place by acquiring Bestatlowest, an online grocery shopping market place for $10 million. BestAtLowest, the online grocery store in Delhi was founded in 2013 by Ankit Nigam and Amit Nigam. The startup already hosts over 7,000 products across categories spread in the FMCG and non-FMCG sectors.

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