Hushbabies.com, a baby care product company which is run by Lapis Marketing Pvt Ltd, has acquired MangoStreet.com, an eStore for kids’ products, reports VCCircle.The financial details of the deal have not been disclosed yet. Founders of MangaStreet, Mohit Yadav and Rahul Yadav, will be joining Hushbabies and report directly to Sridhar Seshadri, CEO of Hushbabies and babyBOX.
Mangostreet.com was started by Mohit Yadav and Rahul Yadav in December 2011 after shutting down their tee shirt design and eCommerce company — Scopial.com. The shift to Mangostreet.com took place right after Scopial Fashion, the company that ran Scopial.com, raised funding from an unnamed angel investors last October, as was reported by Startupcentral.in. Hushbabies.com plans to shut down Mangostreet and at the time of writing this post, Mangostreet.com redirected to Hushbabies.com. Post-acquisition, Hushbabies plans to integrate Mangostreet’s catalog to its own.
In June 2012, Hushbabies had raised an undisclosed amount from a Series A funding round from IndoUS Venture Partners. Apart from the current acquisition, HushBabies had recently taken over BabyBox.in, an information portal for parents. While the Mangostreet acquisition by Hushbabies is consolidation taking place in the market place, it needs to be seen how the eCommerce market for baby care products turns out. As compared to other eCommerce markets, the consolidation of portals in the baby care sections seems to have started early, that is, considering this is just a start.
Buy & Shut
Previously, Flipkart closed down Letsbuy.com, the electronics and gadgets focused ecommerce store, just three months after the acquisition. Snapdeal.com shut down Esportsbuy.com an eCommerce company just two months after the acquisition. Flipkart and Snapdeal integrated some of Letsbuy and Esportsbuy’s products respectively into its own catalog.
Recently, Firstcry.com, another ecommerce site offering baby care products, raised $14 million from IDG ventures and SAIF Partners. Apart from that, there are players like Babyoye.com and its sister site kidsoye.com.