You are here: Home » Companies » Start-ups » News
Business Standard

Home services provider Housejoy acquires laundry start-up MyWash

Housejoy to drive orders, MyWash to bring operational know-how; latter's core team of 10 members including three founders to join Housejoy

BS Reporter  |  Bengaluru 

Home services provider Housejoy acquires laundry start-up MyWash

Bengaluru-based provider has acquired to strengthen its position in the on-demand space. This is the first acquisition for the Amazon-backed company and shows consolidation in the space given the reduced availability of venture funding.
 
While the terms of the deal remain undisclosed, the core team of 10 members including three founders of are expected to join Moreover, with better frequency of usage and a larger user base, is better positioned to drive orders while brings the operational know-how.


 
“We felt that is a complex category due to the logistical operations. The team having looked at this problem for the last one year, has at least learnt what works and what doesn’t work,” said Saran Chatterjee, CEO at
 
has run its service for the past six months and has a presence in five cities so far - Bengaluru, Mumbai, Chennai, Hyderabad and Delhi, while is present only in Bengaluru.
 
Through the acquisition, the company is looking to scale to about 10,000 transactions per day driven solely by on-demand over the next year. Currently handles close to 1,000 transactions, according to Chatterjee.
 
Housejoy, which raised Rs 150 crore in a series-B round led by in December, says it is open to acquiring smaller players in categories that are important to it. While still in a nascent stage, the aggregator market which saw a spurt of venture funding last year, has in some ways dropped off the radar which could lead to a lot of takeovers in 2016.

RECOMMENDED FOR YOU

Home services provider Housejoy acquires laundry start-up MyWash

Housejoy to drive orders, MyWash to bring operational know-how; latter's core team of 10 members including three founders to join Housejoy

Housejoy to drive orders, MyWash to bring operational know-how; latter's core team of 10 members including three founders to join Housejoy Bengaluru-based provider has acquired to strengthen its position in the on-demand space. This is the first acquisition for the Amazon-backed company and shows consolidation in the space given the reduced availability of venture funding.
 
While the terms of the deal remain undisclosed, the core team of 10 members including three founders of are expected to join Moreover, with better frequency of usage and a larger user base, is better positioned to drive orders while brings the operational know-how.
 
“We felt that is a complex category due to the logistical operations. The team having looked at this problem for the last one year, has at least learnt what works and what doesn’t work,” said Saran Chatterjee, CEO at
 
has run its service for the past six months and has a presence in five cities so far - Bengaluru, Mumbai, Chennai, Hyderabad and Delhi, while is present only in Bengaluru.
 
Through the acquisition, the company is looking to scale to about 10,000 transactions per day driven solely by on-demand over the next year. Currently handles close to 1,000 transactions, according to Chatterjee.
 
Housejoy, which raised Rs 150 crore in a series-B round led by in December, says it is open to acquiring smaller players in categories that are important to it. While still in a nascent stage, the aggregator market which saw a spurt of venture funding last year, has in some ways dropped off the radar which could lead to a lot of takeovers in 2016.
image
Business Standard
177 22

Home services provider Housejoy acquires laundry start-up MyWash

Housejoy to drive orders, MyWash to bring operational know-how; latter's core team of 10 members including three founders to join Housejoy

Bengaluru-based provider has acquired to strengthen its position in the on-demand space. This is the first acquisition for the Amazon-backed company and shows consolidation in the space given the reduced availability of venture funding.
 
While the terms of the deal remain undisclosed, the core team of 10 members including three founders of are expected to join Moreover, with better frequency of usage and a larger user base, is better positioned to drive orders while brings the operational know-how.
 
“We felt that is a complex category due to the logistical operations. The team having looked at this problem for the last one year, has at least learnt what works and what doesn’t work,” said Saran Chatterjee, CEO at
 
has run its service for the past six months and has a presence in five cities so far - Bengaluru, Mumbai, Chennai, Hyderabad and Delhi, while is present only in Bengaluru.
 
Through the acquisition, the company is looking to scale to about 10,000 transactions per day driven solely by on-demand over the next year. Currently handles close to 1,000 transactions, according to Chatterjee.
 
Housejoy, which raised Rs 150 crore in a series-B round led by in December, says it is open to acquiring smaller players in categories that are important to it. While still in a nascent stage, the aggregator market which saw a spurt of venture funding last year, has in some ways dropped off the radar which could lead to a lot of takeovers in 2016.

image
Business Standard
177 22