Super app aggregator Tapzo is most likely to be soon acquired by Amazon. According to sources, both companies were engaged in serious discussions for several months now. However, consensus over the acquisition deal was reached only recently, sources add.
People familiar with the matter claim that Amazon and Tapzo have given a go-ahead to the deal. If everything goes well then both companies will make the deal official in September, sources disclosed.
Reports claim that the discussion faced initial hiccups owing to Tapzo’s unwillingness to accept the valuation that it was offered. The discussion was re-started in July, with Tapzo more or less agreeing to the valuation offered by Amazon, sources add.
Both companies have so far refused to comment on the news report. Techpluto will update the post as and when there is latest information available over the matter.
For people who are not aware, Tapzo is all-in-one app that offers users a single gateway access to almost 35 top apps. This includes Flipkart, Amazon, Ola, Uber, Paytm & other. Thanks to this single gateway, users can do mobile recharge, DTH recharge, book a cab and other activities from a single platform.
Tapzo, which is based in New Delhi, has been struggling to raise decent funding from investors. Its last funding that took place in January this year brought merely 10.5 Mn. Prior to this, the company raised $16 million in series B round in May 2015.
A closer look into the company reveals that it has struggled to find strong footing in the market since its inception in 2010. The New Delhi based startup has so far went through three pivots. It started off as a online customer feedback platform under the brand name of Ashoka. However, this platform failed to generate great response and hence after five years of operation it was pivoted to Help Chat – a chat based personal assistant.
The final pivot happened in 2016, after help chat was turned into app aggregator under the brand name of Tapzo. The startup counts Sequoia among its high profile investors.