Mazkara, which owns online salon platform Fabogo, has acquired Mumbai-based software firm BazingaLabs for an undisclosed amount. The acquisition deal is reportedly part cash and part equity. Mazkara said in an official statement that through this acquisition Fabogo will seek to leverage BazingaLabs’ expertise in mobile technology and thereby consolidate its presence among smartphone users.
Fabogo is an online platform that enables users to find best saloons and spas in cities like Pune, Mumbai, Dubai, Sharjah and Abu Dhabi. Its parent company Mazkara was incorporated by Prasanjeet Roy and Mohammad Ali in 2015. The parent company recently received third trench of nearly $ 2.25 Mn funding from a Dubai based investor. Previously, it grabbed $500,000 in angel investment in 2015, followed by $1 million in 2016.
Fabogo competes with several players in the existing markets. In Dubai its main competitor include Rocket Internet funded Vaniday, while in India it competes with host of players like Purplle, ManageMySpa, Zenoti, Nearbuy, Be U Salons, Glam Studios and several others.
BazingaLabs, on other hand, was founded by Kakshil Shah & Darshika Joshi, with an aim to create highly superior mobile technology products. In the past, the company claims to have collaborated with several well-known startups for creating cutting edge mobile products.