India-based payment provider to small and medium enterprises, Instamojo has acqui-hired the virtual theatre and vernacular content platform, Showman on 23 April 2021.
With this acquisition, Instamojo looks forward to strengthening its product and research team. Founders of Showman -Kshitij Bhatawdekar and Rutveez Roopam Rout will join the Instamojo team.
In February 2020, Instamojo had also acquired GetMeAShop (GMAS), an e-commerce enablement firm backed by Times Internet, in order to improve its digital offerings and online tools.
About Instamojo
Founded in 2012 by Aditya Sengupta, Akash Gehani, Harshad Sharma and Sampad Swain, Instamojo is an on-demand payments platform that enables small and medium-sized businesses to build, manage and grow their business online. It helps them get started through its services that include – collecting payments online, creating a free online store, buying domains, mailboxes etc with Instamojo products. Instamojo is a pioneer of ‘Payment Links’ in India, an easy-to-start and easy-to-integrate payment solution.
In November 2020, Instamojo had raised an undisclosed amount in a pre-Series C bridge round from Japanese investors Base and Gunosy Capital. In 2019, it had raised US$ 7M in a Series B funding round led by Japanese payments firm AnyPay.
“The acquihire of Showman is a first for Instamojo and comes at a time when we as a company are evolving to move to the next level. This acquihire will help Instamojo strengthen its product and tech prowess as we continue to innovate across multiple categories and achieve our vision of being the most trusted platform for MSMEs to start their business online.” — Akash Gehani, co-founder and chief operating officer, Instamojo.
About Showman
Founded in 2020, Showman is a virtual theatre, letting you watch movies on the same day of release anywhere across the world from the comfort of their homes.
“As an entertainment-focused platform, we have deep insights into the users of India. When we spoke to Instamojo, we realized our insights can drive real impact for the MSME space of India. Both Rutveez and I are excited and looking forward to beginning this new phase of our journey with Instamojo.” — Kshitij Bhatawdekar, co-founder, Showman.
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