On-demand laundry and refurbishment service Wassup has acquired its peer Chamak in a full equity deal. Recently, Wassup launched its services in Pune, Cochin and Delhi, and with this acquisition, it will would start operating in Mumbai as well.
Wassup is planning to spread its tentacles to 20 territories within the next 6 months, and as per ET, the startup is looking forward to establish its presence in 100 territories with a customer base of 1 million in the next 2-3 years.Wassup is currently positioned as a laundry and dry-cleaning convenience brand. Bur soon it will revamp itself as a managed marketplace for personal care, home care, car care, pet care and handyman services.
Commenting on the acquisition, R Balachandar, Co-founder and CEO of Wassup stated, “Chamak is India’s first brand in the on-demand laundry space which started 7 years ago and is backed by leading investors. We are happy to have the Chamak team come on board with Wassup to achieve a joint vision to create the largest laundry services brand in Asia.”
To name a few, Wassup is competing with Laundrywala, MyWash, LaundryPrime, JetSetClean etc.
It is needless to mention the kind of convenience on demand services add to our busy urban lifestyle. Globally, the on-demand convenience industry is estimated at $9 billion. In India, the laundry market in particular is estimated to be valued at Rs 2,00,000 crores annually, out of which 95% is unorganised. Since, this market is largely untapped, it has immense potential to be disrupted. Also, rapid urbanization, increase in disposable income with the middle class, the over all economic growth and an aspiration to raise the standard of living are few of the primary factors which fuel the demand of ‘on-demand’ convenience services in the country.