Little Internet Pvt Ltd, which owns deals discovery app Little, a venture of Zovi.com founders Manish Chopra and Satish Mani, has acquired Chandigarh-based curated deals marketplace Trideal, for an undisclosed amount. As part of the acquisition, Trideal Co-founders and its core team will join Little.
Commenting on the acquisition, Chopra, said, “Trideal has a large customer base and significant merchant database in Chandigarh. Hence, this acquisition fuels our expansion plans in Punjab,”
Little is a mobile marketplace that offers deals for restaurants, movies, hotels, salons, gyms, spas and other services. It has more than 8,000 merchants on board who dole out 27,000 live deals on its platform. The company’s aim is to have over 50,000 live deals across 11 cities on its app by March 2016. It expects to hit a gross merchandise value (GMV) facilitation run rate of $170 million by the end of this year, says the official Press Release.
Similarly, Trideal, run by Tri Innovations Pvt Ltd, offers deals across segments such as food and beverages, wellness and entertainment. The marketplace claims to have about 1,000 merchants on its platform. It has its presence in Chandigarh and Mohali, Punjab, and claims to get about 7,000 visitors for its merchant partners.
“Our customers will now get access to Little’s merchant and deals database. This will also provide a significant boost in business for our merchants,” said Sameer Sharma, CEO and Co-founder of Trideal.
The deal comes months after Little raised $50 million in July from One97Communications, which runs mobile commerce venture Paytm, SAIF Partners and Tiger Global Management, among others. As part of the funding, Little will power the deals platform on Paytm.
Little’s co-founder Satish Mani, a former senior vice-president for technology at Cleartrip, started fashion e-tailer Zovi in 2010 along with Kavindra Mishra and Sartaj Mehta. Zovi started as an online menswear private label brand and added women’s wear and accessories later on.
The market today, is witnessing a surge of startups offering innovative hyper local O2O services. For example, Niffler, which recently got acquired by HelpChat was one of the emerging players in this segment. The primary motive held by all of these startups is to bridge the gap between offline retailers and the digital customers.