Tuesday 28 August 2018

Amazon Pay Acqui-hires Tapzo, Onboards Its Employees

Amazon and Tapzo have been in discussions about the deal for the past three months
The valuation of Tapzo for the deal is speculated to be a markdown of nearly 50%, similar to its last fundraise
Global ecommerce company Amazon has plans to further strengthen its portfolio and presence in India as the company has acqui-hired Tapzo, an “all-in-one” app that aggregates 35+ different apps in one place, across categories such as cabs, food, recharge, bill payment, news, cricket, horoscopes, and more.
According to Inc42 sources, the deal has been under discussion for the past three months. Tapzo’s valuation for the deal is speculated to be a similar markdown as its last fundraising.
Tapzo raised $1.9 Mn in December 2017 from existing investors RB Investments Pte Ltd and Ru-Net South Asia at a post-money valuation of $47.3 Mn (INR 308 Cr) — nearly 50% less than its valuation in the previous round — $85.54 Mn (INR 600 Cr).
Sources revealed that the Tapzo team was sitting with Amazon Pay team in their WTC office.

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