Pune-based mobile-first savings discovery platform Scandid has acqui-hired hyperlocal startup Snabar for an undisclosed deal amount.
Once the deal goes through, Snabar CEO Onkar will join Scandid as product manager. Onkar will be responsible for overseeing development of a seamless user experience on Scandid.
The acquisition is strategic, as Scandid is on the lookout for talent and technology to continue to build a user-friendly shopping and savings assistant platform.
“We are excited to welcome Snabar into Scandid,” said Sushil Choudhari, co-founder of Scandid. “There are a lot of exciting synergies between the two teams on the product and vision for shopping assistance. The acquisition will help Scandid expedite our milestones and metrics.”
Snabar is a hyperlocal ecommerce product that bridges the gap between online and offline shopping by connecting the buyer and local seller. The portal offers products ranging from electronics, home and furniture products to accessories, children’s products, and apparel for men and women.
It also provides users with information on available discounts and schemes in nearby shops. The app also allows users to opt for in-store purchase or home delivery within a time frame and get a cashback upon uploading the bill.
Scandid, on the other hand, was founded by Sushil Choudhari and Bhaskar Thakur in 2013. It acts as a digital shopping assistant and is a free mobile shopping discovery and price comparison app. It helps customers compare prices, find money saving coupons and discover discounts in different categories like electronics, apparel, kids, home, and books across ecommerce and local retailers. Besides, Scandid also provides information from local neighbourhood retailers.
It currently showcases 30 Mn products with a network of around 200 retailers which includes online biggies such as Flipkart, Amazon, Snapdeal, Shopclues as well as local neighbourhood shops. It also boasts of over 7 Mn installs and more than 3.6 Mn registered users across India.
The founders claim to have helped customers save more than $897K (INR 6 Cr) in online shopping in the past 12 months, through additional features such as barcode scanners and location-based promo plug-ins.
Scandid recently secured its Pre-Series A funding from Mohandas Pai and Micromax. Prior to this, Scandid had raised funding from Silicon Valley-based investors in 2015.
Other startups in this segment include Nearbuy, Crown It, CashKaro, etc.
