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Snapdeal looking at 10% stake in Zimmber
Posted On: 08-02-2016 00:00:00 16

As per a report in Economic Times:

Jasper Infotech, which owns and operates Snapdeal, is said to be in the final stages of talks to invest in on-demand home services platform Zimmber. The company is expected to invest between Rs 40 crore-R 50 crore in Rejuvenate Solutions, which runs Zimmber, for about a 10% stake. This will be Jasper's second investment in the on-demand services space, after it led a $36 million (about Rs 240 crore) round in hyper-local delivery service PepperTap in September. It also comes less than two months after rival ecommerce firm Amazon led a Rs 150-crore funding round in home services startup Housejoy.

Founded in 2014 by Goel, Gaurav Shrivastava and Amit Kumar, Zimmber has about 1,000 service providers on its platform, which allows consumers to book services such as laundry, plumbing, pest control and home cleaning. The startup, which operates in the Delhi-National Capital Region, Mumbai and Pune, has also been backed by InMobi Chief Executive Naveen Tewari, Jabong's Praveen Sinha, and Akhil Chainwala and Alex Kuruvilla of Conde Nast, among others, who invested in their personal capacities.

Last year Snapdeal had bought digital payments platform FreeCharge for $400-450 million the largest buyout so far in the Indian consumer internet sector. It also bought premium and luxury online retailer Exclusively.in, mobile commerce startup Martmobi, financial distribution platform RupeePower and Silicon Valley startup Reduce Data. The company also has a 42% stake in Gurgaon-based logistics venture GoJavas.

 
 
 

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