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Real estate group buying portal Groffr.com acquires deals website Mobstreet.in

Mumbai-based real estate group buying portal Groffr.com has acquired deals website Mobstreet.in, at an undisclosed amount. However, the acquisition is said to be a cash-cum-stock deal. According to Vikhyat Srivastava, co-founder of Groffr.com, in the deal Groffr has acquired the customers and the management team of Mobstreet.in. Spandan Jasmin Tolia, founder of Mobstreet.in also joins Groffr’s board.

Mumbai-based real estate group buying portal Groffr.com has acquired deals website Mobstreet.in, at an undisclosed amount. However, the acquisition is said to be a cash-cum-stock deal. According to Vikhyat Srivastava, co-founder of Groffr.com, in the deal Groffr has acquired the customers and the management team of Mobstreet.in. Spandan Jasmin Tolia, founder of Mobstreet.in also joins Groffr’s board. Mobstreet was officially shut down in December 2010 due to lack of funds.

Groffr currently has 16 employees and has three offices in Bangalore, Mumbai and Hyderabad. It also offers non-real estate deals in Bangalore, Chennai, Goa, Hyderabad, Mumbai, NCR and Pune.

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