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AskMe.com acqui-hires groceries start-up bestatlowest.com

AskMe.com, the online search, listings and deals portal of Getit Infomedia Pvt. Ltd, has acquired online groceries start-up bestatlowest.com as it expands marketplace services.

AskMe.com, the online search, listings and deals portal of Getit Infomedia Pvt. Ltd, has acquired online groceries start-up bestatlowest.com as it expands marketplace services.

According to a Live Mint report, with this acquisition, the e-commerce portal and its team of 25 people, which includes founders Ankit Jain and Amit Nigam, become a part of AskMe. They will work on integrating bestatlowest.com into askmegroceries.com, which will be launched later this year.

“The deal value is within $10 million,” Manav Sethi, head – marketing and digital products, AskMe.com, was quoted in the report as saying. 

Accelity BestAtLowest Online Services Pvt. Ltd, which runs bestatlowest.com is a marketplace working in the hub-and-spoke model. It has tied up with retailers and supermarket stores to acquire food and groceries to supply to its hub, which are then delivered across locations. It offers a same-day delivery service within 4-6 hours of consumers placing an order in Delhi-NCR. 

“The acquisition will give us a chance to grow faster and be pan-India by end of the year,”Jain was quoted in the report as saying.

“Grocery is a frequent and regular need for consumers and we see this become a growth driver in our marketplace offering,” Sethi, told the Economic Times, while explaining that it expects searches relating to groceries to account for 20-30% of its overall searches by end of 2015-16.

In July, Getit Infomedia had launched Askmebazaar, its e-commerce portal for small and medium enterprises (SMEs) in India. The company is now getting up to 600,000 orders a month at an average value of Rs.1,000 per order, Sethi told the Economic Times, who expects this to increase to a million orders a month by July end.

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