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Capital Float

500 Startups takes exit as 91mobiles acquires majority stake in Pricebaba

Capital Float

Smartphone discovery platform 91mobiles has acquired a majority stake in 500 Startups-backed product research platform Pricebaba for an undisclosed amount.

Following the deal, 500 Startups, the early backer of Pricebaba will exit the company and co-founder Annkur P Agarwal will move to an advisory role.

91mobiles will now operate three websites in the gadgets vertical including 91mobiles.com, tech lifestyle portal KillerFeatures.com and Pricebaba.com.

The New Delhi-based firm will also invest around $500K to revamp the Pricebaba platform and provide content in over 10 Indian languages across different formats including text, audio and video content in the next few years.

The six-year-old Mumbai-based Pricebaba, which claims to serve around 5 million monthly users, will continue to operate as a separate property, focusing on the larger consumer electronics category that includes TVs, washing machines, ACs and refrigerators, and smartphones.

Now, with a combined reach of 30 million visits per month, 91mobiles will continue to remain focused on smartphone enthusiasts and buyers revealed the company’s press statement.

According to 91mobiles co-founder Nitin Mathur, his company including group sites will have the largest insights on consumer’s search and buying behaviour in the consumer electronics category, after big e-commerce sites like Flipkart and Amazon.

With the acquisition of Pricebaba, 91mobiles will create stiff competition for similar players in this space such as PriceDekho, MySmartPrice, and CompareRaja.

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