Online-to-offline deals marketplace Little has acquired Stylofie, a marketplace for salons and spas for an undisclosed amount. With this acquisition, the company will get access to more than 50,000 registered visitors and 1000 merchants on the Stylofie platform.
The start-up was founded by Saurav Dey, who will be joining the Little team whilst the other two founders Prateek Agarwal and Balaji Srinivasan will be exiting to explore other opportunities. The rest of the Stylofie team will be joining the company and will be based out of the office in Gurgaon.
This is Little’s second acquisition and it had bought Trideal in October 2015, a curated deals marketplace in Chandigarh for an undisclosed amount. Trideal offers deals in the food & beverages, wellness and entertainment industries and was incubated at Chitkara University.
Little, which was founded by Zovi founders Manish Chopra and Satish Mani in July 2015, has raked in $50 million in funding from Paytm, an undisclosed investor and existing investors SAIF Partners and Tiger Global Management. The company said it has witnessed a growth of 200% after the demonetization initiative, and now has over 25,000 merchants present in 15 cities offering 50,000 live deals across food and beverages, movies, last minute hotels, health & wellness.
Interestingly, Stylofie had acquired Hyve, a personal care app in January 2016. The acquisition was part-cash and part-equity deal wherein the business team of Hyve was retained by Stylofie and the founding members of Hyve exited the business to pursue other interests.
– In August 2015, Local coupon and deals platform Groupon India raised money from Sequoia Capital which allowed the venture capital company to acquire majority stake in the business. It later merged operations of Groupon India and Nearbuy.
– There’s also Times Internet-owned CouponDunia launched an in-store, hyperlocal couponing system where users would be able to buy items in offline stores using CouponDunia’s coupons in categories like apparel, footwear, accessories, home decor, electronics and gaming among others.
– In December last year, Wirkle co-founder Sunil Goyal launched a services marketplace called Near.in. The marketplace is limited to service providers from Gurgaon across categories like Home Needs (home services, architects & interior designers) Health & Wellness (dieticians, physiotherapists and zumba classes) and Events (photographers, makeup artists, tattoo artists, event planners).
Image Credit: Flickr user Mike Mozart