Hyperlocal shopping app Grofers, has recently acqui-hired teams of Bengaluru based tech start-ups SpoonJoy and Townrush. The move is marked as a part of the scaling-up process at Grofers and is purely an acqui-hire, said Grofers.
According to Grofers, they aren’t looking to continue the existing business lines of these companies, and no significant cash or equity is being exchanged.
With the new acquisitions, Grofers is set out to better their hyperlocal grocery-shopping experience by including newer product categories, along with product discovery features such as enhanced product information, and real time inventory.
“To match the pace of exponential growth in our business, an acqui-hire serves as an efficient way to add talent in a single block. The respective teams have rich experience in building and running early-stage tech companies, which ensures that we get people with the right attitude who will hit the ground running. We are excited to have them on-board,” said Ashneer Grover, Chief Financial Officer, Grofers.