Your browser is currently blocking notification.
Please follow this instruction to subscribe:
X
Notifications are already enabled.
X

Stylofie Acquires App-Based Beauty & Wellness Marketplace Hyve

Stylofie Acquires App-Based Beauty & Wellness Marketplace Hyve

Gurgaon-based beauty and wellness services marketplace startup, Stylofie, has acquired Hyve, a mobile-only marketplace in its domain, in a partly cash and partly equity deal.

With this, the business team of Hyve will be retained by Stylofie, whereas, the founding members will exit.

Bangalore-based Hyve was started in 2015 by NIT Allahabad alumni, Piyush Rawat, Pratik Bhadkoliya, Ratnesh Neema, Nirmal Prasad, Mohit Nigam and Bharat Chudasama. The co-founders had earlier worked for Rootwork, that focused on building apps.

After the acquisition, Hyve will soon be renamed to “Hyve – by Stylofie” and will eventually be merged with the company. The acquisition will help Stylofie revamp its technology stack and expand to a new geography while the customers of Hyve will get new and better features in the app.

Prateek Agarwal, co-founder & CEO at Stylofie said, “We needed a more scalable technology platform to cater to the ever growing needs of our tech-savvy customers. The business in Gurgaon has been growing rapidly too, almost 80-100% month-on-month while launch in Delhi & Noida was around the corner, and thus, there was no time to re-do the whole technology stack. Hyve, on the other hand, is a fundamentally strong application founded by a technology team that is very tech savvy.”

Stylofie was founded by MDI Gurgaon graduates, Prateek Agarwal and Saurav Dey along with Balaji Srinivasan, to help consumers discover salons/spas, read reviews, rate their services, compare prices and avail discounts for booking through its marketplace model. Presently, it has more than 100 premium salon/spa outlets listed on its platform with over 100% growth month-on-month basis.

In November 2015,  Stylofie had raised $250K in seed round of funding in order to strengthen its technology stack and expand to Delhi.


Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.


Author

Akanksha Pahwa

Inc42 Staff

Passion for writing and inclination of being updated in technology brings Akanksha together to be a content writer. Her prior experience in PR firms widens her genres in Media planning, Corporate Communication and Research Analyses.

Responses
https://inc42.com/resources/future-of-online-grocery-in-india/
Loading Next…

Upcoming Events