E-commerce enabler and payment gateway startup targeted towards micro, small, and medium enterprises (MSME) – Instamojo has acquired Times Internet owned GetMeAShop (GMAS) for $5 million.
GMAS primarily helps small businesses build an online website, and also offering marketing, payments, and CRM tools. This acquisition would probably boost Instamojo offerings, particularly its own website builder platform ‘Instamojo Online Store’. The website also has features that includes in-built payments and analytics, shopping cart, etc.
Times Internet, a part of the Times Group, had bought GMAS in December 2015. This marks the first acquisition for Instamojo, that is around eight years old. This would also offer added services to around 1.2 million merchant base.
Sampad Swain had told Financial Express Online that with this new acquisition, they are venturing into the SaaS modelling. They would be providing software for MSMEs to build their own network and also build their online e-commerce store. There are several value added products like Google Analytics, CRM, and digital marketing tools.
He further said that all this while, Instamojo had a basic online store for someone to get started. Instamojo had to change eventually when merchants were evolving to get a brand name. Instamojo had to change its layout and software eventually.
Now, Instamojo would add GMAS as a premium product with additional features, apart from Instamojo’s own free store for its merchants.
They are likely to revamp the model, along with their free store, and they would add the GMAS as an additional feature for merchants on Instamojo platform for a premium price. The startup has a team of around 25-30, that sits in Gurugram. They have been absorbed by Instamojo and have already started working under the parent company.