On-Demand Cleaning service providing startup, Mydidi has acquired their rival TimemyTask in an all-stock deal. As per the deal, Mydidi will acquire all the workers and technology of TimemyTask and the company will run under name of MyDidi.
The Mumbai-based startup, TimemyTask was founded in March 2014, by IIT graduates Mohit Verman and Saurav Suman. The company is a B2B cleaning service which operates in Mumbai, Pune, and Bangalore. It is an online and mobile platform for delivering on-demand and efficient home services. They offer reliable and quality service for cleaning and other household services by trained and skilled workers.Their mission is to improve the quality of living and life with technology and human value.
On the acquisition, Saurav Suman, the CEO of TimemyTask said “We will lead the B2B segment operations for the new entity. We are looking to introduce new categories of services which will include commercial cleaning services as well.”
The deal value will be about $10-15 Millions. This will be the first acquisition of MyDidi since their existence.
MyDidi.in provides hourly home cleaning services that can make your home spotlessly clean. This acquisition will help the company to explore their B2B operations in Mumbai, Bangalore, and Pune.
Jhonny Jah, CEO of MyDidi.in said “ Timemytask has about 10K customers and a fleet of 200 cleaners who will join our team. That would help us multiply our customer base by 1.5 times. The revenue has been increased by 50% month-on-month. We will be looking to triple our B2B segment so that it will help in strengthening our organic resources and reduce the external fundraising requirement.”
After the growth of on-demand maid services and shutdown of service provider startup-Taskbob, it will be a good opportunity for Mydidi to perform in the cities. Read more Indian Startup Stories.
Want to be a guest author? Register Here to share your business knowledge with our readers.