Messaging-based delivery startup MagicTiger has acquired its peer Instano for an undisclosed amount, reports TechCircle. Instano is a chat-based ecommerce platform which offers on-demand delivery services. The deal is an acqui-hire and the core team of Instano will be joining MagicTiger.
Currently live only in Bangalore, Instano was started in Rajesh Ranjan, Rakesh Andey and Vedant Agarwala in 2014. The startup claims to offer delivery within 30 minutes and has a network of merchants and retailers on its platform across a number of categories including food, cosmetics, pharmacy, fruits, groceries, electricity and plumbing services and delivers products to users from them.
Similarly, MagicTiger allows users order goods over chat like food, groceries, pay bills, travel tickets, movies and events tickets, cakes, appointments, gifts, household services and laundry services. It is live in Bangalore and Hyderabad and does not charge customers for the service.
Zoyo acquisition
In October, MagicTiger acquired Zoyo, an artificial intelligence based platform that lets users shop over chats, in an all cash and stock deal. Following the deal, Zoyo’s services would be integrated into MagicTiger’s app.
Competition
– Bangalore-based mobile app Lookup, which raised $2.5 million in funding earlier this month, provides similar services, although with a significant difference. It offers an Android and iOS app on which allows businesses and users to interact with each other. Users can search for a shop, service or product and then chat with them to get things done. With MagicTiger, users only interact with the company representative who then tries to make sure their request is fulfilled.
– Other than this, there are chat-based conierge apps like Goodservice and Haptik, both of which offer various hyperlocal services.
– There’s also Helpchat that acquired Mumbai-based startup Niffler for an undisclosed amount. Helpchat would use the acquisition to expand its services to Mumbai and Pune faster.
