In a bid to strengthen its presence in online baby products market, Hushbabies has acquired MangoStreet, an online store offering kid’s product, reports TechCircle. Since the acquisition,MangoStreet.com is now directed to Hushbabies.com. The financial terms of the deal were not disclosed.
Founded in 2011 by brothers Mohit and Rahul Yadav, Mangostreet.com offers a wide range of kids products from age 4-12. As a result of the acquisition the founders will join the boards of Hushbabies.
Hushbabies recently secured Series A funding from IndoUS Venture Partners (the investment being in the range of $3-$5 million).The Coimbatore-based e-commerce start-up is a specialized player in baby care segment and provides shopping source for parents and parents to be. Co-founded by a couple Vidyasagar Kris and Praveena Dhinakar in 2009, Hushbabies caters to infants and mothers. The company quietly took over babybox.in from Jasper (the company behind Snapdeal.com).
Husbabies.com’s product catalogue includes items like infant toys, diapers, clothes, books, cds, cribs, prams and much more. Some of items of International brands like Fisher-Price, Hauck, OK Play etc are also present on the online shopping portal.
In recent times, a large number of portals for new born babies and kids are mushrooming. The recent boom in the e-commerce segment is making players look at this segment seriously. AllSchoolStuff.com, FirstCry, M2C,Babyoye are some of the similar players in this market.
According to an Assocham study, the Indian kids-wear market is growing at a compounded annual growth rate of about 20 % and is likely to reach Rs 80,000 crore by 2015.
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