Hyperlocal on-demand multi-service provider, Jugnoo has acquired two companies, Bistro Offers, a restaurant offers discovery app and yelo, a Bangalore based mobile only services marketplace.
Bistro Offers is a marketing platform for restaurant owners which helps them publish offers real time. On the consumer side, it is a deal discovery platform that users can use to find nearby deals and get rewarded for loyalty at certain brands, whereas, yelo is a mobile only peertopeer platform. ‘It’s your locally connected friend who can put you in touch with the right people for your needs.’ On the supply side, anyone with just a smartphone can enlist with his or her skills, talent or passion; get referred for a query or monetize direct leads.
Both, in a way, focus on hyperlocal content discovery and this brings to light Jugnoo’s strategy of getting into this space where they are already leading the logistics side of it.
The acquisition has been made with a motive of strengthening Jugnoo’s foothold in the hyperlocal space.
“We are pleased to complete these acquisitions as content discovery is an emerging concept and enables us to engage our customers better. Between Jugnoo, Bistro and yelo, we offer complementary products and there is potential for significant synergies.”, maintained Samar Singla, CEO & Founder Jugnoo.
He added, “Both continue to be independent products and their team will continue to build and grow the product. Our plan is to launch them in all our markets very quickly and then work on monetizing the traffic via Jugnoo offerings”.
Commenting on the acquisition, Saral Maghan, CEO Bistro asserted, “Jugnoo has seen explosive growth and has scaled very fast. With our product already gaining momentum, Jugnoo’s traction would propel our reach to a much bigger audience quickly.”