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Chandigarh-based Jugnoo has acquired restaurant discovery app, Bistro Offers, and mobile only services marketplace yelo.red.
The size of both the deals is identified at $1 Mn including cash and stock components.
Jugnoo states that this acquisition will enable the company to strengthen its hyperlocal marketplace as both companies focus on hyperlocal content discovery.
Samar Singla, CEO & Founder of Jugnoo said, “Content discovery is an emerging concept and will enables us to engage with our customers better. There is a potential for significant synergy between Jugnoo, Bistro and Yelo.”
According to the deal terms, Bistro Offers and Yelo would continue to be independent products and their team will continue to build and grow the product.
Samar added that Jugnoo’s plan is to launch the two acquired startups in all its markets and then work on monetizing the traffic via Jugnoo offerings.
Bistro Offers is a deal discovery platform that users can use to find nearby deals and get rewarded for loyalty at certain brands. It has over 100 discount coupons from leading restaurants and cafes across Chandigarh.
Whereas, Yelo is a mobile only peer to peer (P2P) platform that connect users with other professionals or services.
Both companies bring with them the content discovery play which will enable Jugnoo to be a comprehensive service aggregator for its consumers and strengthen its presence in hyperlocal marketplace.
Jugnoo is presently showing significant traction with 10,000 daily transactions under the suite of its three applications viz Jugnoo Autos, Jugnoo Meals and Jugnoo Fatafat.
The company is also planning to be in 40 cities by the end of this year.
Prasun Jain, founder at Yelo said, “The potential of hyperlocal and content discovery is endless and with each of us having tested this in our own capacity, I believe this acquisition is a pragmatic move for all of us resulting in an increased reach and a more comprehensive solution for the masses.”
Yelo was also selected for Nasscom 10,000 Startups, Google Launchpad, FbStart, and Construkt launch 2015. It was also among the top apps at Google’s Android App Expo 2015.
Earlier this year, Jugnoo acquired BookMyCab to foray in Mumbai.
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