Latest 53central News
Sep 30, 2015
by Bhavna Singh Leave a Reply Online Furniture Marketplace Mebelkart acquires 53central (Source) Online furniture marketplace Mebelkart has acquired 53central.com for an undisclosed amount. 53central focuses on buying of sport products whereby the prices of products vary depending on the demand. As per the deal, 53central’s founder Josy Mathew will join Mebelkart as the Head of Business Development and lead its new business lines of bulk selling under it. Founded in 2012 by Rahul Agrawal and Ranjeet Vimal, Bangalore based Mebelkart currently offers furniture on its platform with around 500 sellers. It delivers products in more than 20000 pin codes. Commenting on how will this acquisition help Mebelkart, Rahul Agrawal, Co- Founder and CEO of Mebelkart told iamwire, “Furniture when bought in bulk can lead to significant reduction in costs for the customer by reducing waste, internist damage, in transit cost, breakage exceptions, etc. This will also be helpful when dynamically deciding the price of furniture (specially for corporate requirements or when the entire society buys furniture—when people move to new apartments).” Further adding he said, “Though both the companies were operating in different categories this is a fantastic marriage of algorithms, technology and consumer needs. This acquisition will enable us to further strengthen our position in the group buying sector.” In order to grow inorganically and expand their reach to global markets, the company has plans acquire more such companies in future. In August 2015, the company raised an amount of $20 million from local search platform Askme.com. Other players in this segment are also actively raising funds so as to ensure their hold on the market. In September 2015, Livspace acquired YoFloor , a mobile platform that offers a virtual trial room for home design decisions for an undisclosed amount. YoFloor was company’s third acquisition after after it acquired design community marketplaces DezignUp in March and Mumbai-based Dwll.in, a curated online network of interior designers in May. In August 2015, it had raised an amount of $8 million from its existing investors namely, Helion Ventures, Bessemer Venture Partners and Jungle Ventures. In June 2015, Rocket Internet was planning to sell its top eCommerce firms including FabFurnish, as the companies were facing tough competition from new entrants. Rocket Internet was losing significant ground which once it held. But the Venture Capitalist company refused to comment over the matter and turned it down by calling it a rumor, as reported by ET. In April 2015, UrbanLadder raised two rounds of funding during the same month from Sequoia Capital and Junglee Founders Venky Harinarayan and Anand Rajaraman. Other players in the online furniture space are HomeLane, Pepperfry.com, and CustomFurnish.