AskMe Acquires BestAtLowest At A Not So Low $10 M
Yet another acquisition in the e-commerce and foodtech space is in the news. Gurgaon-based Internet Company Askme has acquired Accelity BestAtLowest Online Services Private Limited, a New Delhi-based company that runs online grocery shopping marketplace Bestatlowest.com, for $10 million (approximately Rs 63 crore). Under the agreement signed between the two enterprises, BestAtLowest will operate as part of Askme and will expand its search capabilities and enable real-time inventory sync between online and physical stores.
What Is BestAtLowest?
Ankit Nigam and Amit Nigam founded Bestatlowest.com in 2013 with operations in New Delhi and the National Capital Region. With over 7,000 products across different categories spread in both fast-moving consumer goods (FMCG) and non-FMCG sectors, the online grocery store claims to deliver its services within 4-6 hours of placing an order.
So What Happens Now?
With this acquisition, Bestatlowest.com’s entire team of 25, including its founders, will come under Askme’s umbrella, and will work on merging the online grocery shopping marketplace with Askmegroceries.com, a new site which is slated for a roll out later this year. With so many online facilities coming up, the next thing that we’ll be acquiring is definitely more Internet data limit.