Healthkart an e-health store, has acquired MadeInHealth (www.madeinhealth.com), an online fitness and body-building community and supplement store. With the acquisition, Healthkart aims to strengthen its position in the e-health space, and seeks to boost its presence in e-Commerce market, which is expected to grow several fold over the next few years.
Expressing their delight on the acquisition, Prashant Tandon & Sameer Maheshwari, Co-founders of HealthKart said,”MadeInHealth is a complementary high-growth business, and an excellent strategic fit with HealthKart. The company has built a great online community of fitness enthusiasts and with this acquisition, we are gaining critical domain in body-building and fitness.”
Launched in 2011, HealthKart, has grown rapidly to become a key player in the e-health store market, where consumers from all parts of the country can find a large variety of healthcare products under a single umbrella.
Speaking about the synergies from the deal, the co-founders, said, “We will be able to lend strong backend platform and operations to effectively serve MadeInHealth’s customers, who will immediately get unprecedented access to vast assortment of global nutrition brands, in addition to increased payment options and faster shipping across the country. Their expertise, combined with our capabilities will create a uniquely powerful value proposition for clients.”
Healthkart sells over 12,000 products across fitness, health and personal care categories such as nutrition, diabetes, home devices, eye and personal care. MadeInHealth targets bodybuilders and fitness-enthusiasts who understand the value that supplementation can provide in body building by providing the world’s leading brands and supplements directly to their doorstep and has over 100,000 Facebook fans.
Speaking exclusively with Iamwire, Sameer Maheshwari, Co-founder of Healthkart, said, “We are very strong in e-commerce and MadeinHealth has a very strong community of fitness enthusiasts. We view this as an acquisition of MadeinHealth’s domain, customer base and technology platforms. Over the next one year, we would witness a lot of traction in the nutrition and supplements etailing market and we want to be suitably positioned in the leadership position to benefit from the same.”
Speaking with Iamwire on the benefits of the deal for MadeInHealth, Sameer said, “Healthkart will now extend adjoining categories such as vitamins, speciality nutrition and fitness accessories on madeinhealth.com, to make it a one-stop shop for fitness enthusiasts.”
Healthkart is a brand of Bright Lifecare Pvt. Ltd., a New Delhi-based company which was started in April 2011 and has a paid-up and authorised capital in excess of Rs.36 Crores. The company had raised $1 million in seed funding from Kae Capital and Sequoia Capital in 2011 and early this year raised another $5.2 million from Sequoia and Omidyar Networks in a Series A round of funding.
Speaking about the acquisition, Jatin Modi and Maniraj Singh Juneja, Co-founders ofMadeInHealth , said, “We are excited that MadeInHealth would now officially be part of HealthKart. It would give our community access to a high quality service delivery network and the largest range of products available in India,” stated.
The Co-founding team of MadeinHealth was though acquired by Yebhi.com in a cash-equity deal and will be joining Yebhi. Expressing joy on this new development, Mr. Manmohan Agarwal, CEO of BigshoeBazaar (owner of Yebhi.com) said, “We are happy to welcome the Founding team of madeinhealth.com to join the Yebhi team. They are a young and enthusiastic team and they bring zeal and a new perspective to Yebhi.com team. I am certain that this team will add a lot of value to Yebhi.com with their expertise. ”
The move follows a spate of acquisitions/buy-outs in the e-commerce market which has been witnessing consolidation across verticals and categories, starting with Flipikart’s acquisition of Letsbuy, Snapdeal acquiring eSportsBuy, Yebhi acquiring StylishYou.In and the recent acquisition of Qcabs by Carzonrent.Category Investments News