Askme acquired BestAtLowest.com for 10 million US dollar [ Current Affairs ]
Gurgaon-based Internet Company Askme (Ask MetaFilter) acquired grocery marketplace BestAtLowest.com (Delhi-based Company) for about 10 million US dollar. According to the agreement, BestAtLowest.com will become part of Askme and the acquisition will further expand the company’s search plus capabilities and enable near real-time inventory sync between online and physical stores.
- E-commerce is expected to quadruple in the same time to become a 60-70 billion US dollar market. BestAtLowest.com has launched over 7000 products across categories spread in the FMCG and non-FMCG sectors.
- Under the agreement signed between the two entities, BestAtLowest will operate as part of Askme and will expand its search capabilities and enable real-time inventory sync between online and physical stores.
- Bestatlowest.com is a marketplace working in the hub-and-spoke model. It has tied up with retailers and supermarket stores to acquire food and groceries to supply to its hub
- In 2013, Bestatlowest.com was founded by Ankit Nigam and Amit Nigam with operations in New Delhi and the National Capital Region.
- Published on: May 20, 2015