Aquisition Startup News

Mobikon acquires social and marketing solutions provider MassBlurb for $2.5 million

"partnership" written puzzle pieces in hand

Mobikon, a restaurant customer engagement and marketing platform, recently made waves in the startup world for acquiring MassBlurbin, a social and marketing solutions provider based out of Mumbai. According to industry insiders, the deal is a mix of equity and cash  and is pegged around a whopping $2.5 million.

The acquisition could be of great help to Mobikon as it could help the company expand its client portfolio as it would now be able to offer various new services such as  website automation, online review management and others to new and existing clients.

Mobikon, which currently has big hotshot brands like Radisson Hotel, Copper Chimney, JP Palace, Swensens, Shankey’s Pizza, Secret Recipe, Red Crab Group and City of Dreams etc. already on board, could add another 200 restaurants brands to its list, all thanks to the MassBlurbin acquisition. According to company sources, the company has a goal of having over 800 restaurant brands on-board by the end of 2016.

Backed by Asean tech-fund Qualgro and Jungle Ventures, Mobikon has offices in Pune and Singapore, and clients spreading across South East Asia and the Indian sub-continent.

Sharing his views on the acquisition with a national economic daily, Samir Khadepaun, Mobikon’s founder said, “Our customer overlap is less than 6 per cent and with the current acquisition, the restaurants can manage loyalty, social engagement and other features on a single system.”

He further added, “We have also come up with an integrated dashboard where they can monitor order flows offline and through aggregators and manage the lifecycle of the customer.”

According to the terms of the acquisition, MassBlurb’s founders, Sanket Shah and Pankit Chheda, will be designated with key roles in Mobikon. While Shah will look after key accounts and partnerships, Chheda will be managing new product initiatives.

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Kirti Sharma

She is a fun loving girl who's always scouting for innovative startups and fun entrepreneurs to write about. When not writing, you can find her perched in the corner of her room with her laptop running a serial marathon of her favorite sitcoms. You can contact her at skirti100@yahoo.co.in

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