wordpress blog stats
Connect with us

Hi, what are you looking for?

BabyOye Acquires Hoopos; Raises $12M From Helion Venture Partners & More

UntitledBaby products focused e-commerce venture Babyoye.com has acquired Bangalore-based Hoopos in an all stock deal, reports The Economic Times. The report also claims that the two entities would merge following the deal and that the merged entity has raised $12 million (Rs 64.8 crore) in funding from Helion Venture Partners, Accel Partners and Tiger Global. The merger was first reported by Nextbigwhat.

In December 2011, Bollywood actress Karishma Kapoor had invested an undisclosed amount in BabyOye, following which she had become the largest individual shareholder in the company. In April 2011, the company had raised an initial funding round of $2.5 million from Accel Partners and Tiger Global. In the same year Hoopos had raised an undisclosed amount of funding from Helion Advisors.

Interestingly, while the companies did not have any common investors initially, it should be noted that the new merged entity has raised funding from Helion Venture Partners, an investor in Hoopos. This merger too seems like an investor driven merger/acquisition. According to the report, BabyOye does not plan to shut down Hoopos and has indicated that Hoopos could be turned into a niche site retailing products for older children.

Launched in 2010, Babyoye.com is one of the few babycare products focused e-commerce ventures in India with other players being Hushbabies.com and Firstcry.com. The company claims to offer over 13,000 Indian and imported baby products across categories, like diapers, bath and skincare, health and safety products and over 120 brands like Johnson & Johnson, Hauck, Graco, Medela, Avent, Chicco, Fisherprice, farlin, Pampers, and Huggies.

Other developments

In August 2012, Hushbabies.com, a baby care product company which is run by Lapis Marketing Pvt Ltd, has acquired MangoStreet.com, an eStore for kids’ products. It had Shutdown MangoStreet after the acquisition. HushBabies had also taken over BabyBox.in, an information portal for parents.

Advertisement. Scroll to continue reading.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

News

Existing consumer protection regulations are not sufficient to cover the extent of protection that a crypto-investor would require.

News

The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ