Mumbai-based real estate focused group buying site Groffr has acquired the assets and management team of Mobstreet, a group buying portal also based in Mumbai, which shut down operations last December. Mobstreet founder Spandan Jasmin Tolia will join the Groffr team. The size of the deal has not been disclosed.
Groffr was founded last July by Sandeep Reddy and Vikhyat Srivastava, who were earlier with the Kotak Mahindra Group. Both are alumni of IIM Kozhikode.
What others are saying about the deal
Image Courtesy: Groffr
[...] this competition. The weaker will either shutdown (mobstreet being latest victim) or will be acquired by others. The best way out is to join hands with others players in the space &consolidate their [...]
[...] this competition. The weaker will either shutdown (mobstreet being latest victim) or will be acquired by others. The best way out is to join hands with others players in the space &consolidate their [...]