Mumbai-based on-demand cleaning services provider MyDidi has acquired its contemporary TimeMyTask in an all-stock deal. MyDidi will absorb all the employees and the technology stack of TimeMyTask through this deal.
“TimeMyTask has about 10,000 customers and a fleet of 200 cleaners who will join our team. That would help us multiply our customer base by 1.5 times,”
Jhonny Jha, CEO of MyDidi.
TimeMyTask cofounders Saurav Suman and Mohit Verma will lead the B2B segment for the new entity. With the merger, MyDidi is looking to introduce a new category beyond the existing on-demand maids and deep cleaning services.
“We plan to introduce commercial cleaning as a service. The merger will help us tackle the whole cleaning problem with three vast categories, namely on-demand maids, deep cleaning and commercial cleaning,”
said Suman of TimeMyTask.
Didi was founded by IIT-Bombay alumni Jha, Sagar Sen and Tushar Jadhav in June 2015. Operated by Urbanity Multisol Pvt. Ltd., it had secured $150,000 (about Rs 1 crore) in angel funding from former McKinsey & Co executives Jozef Bardik, Leo Wang and Sangeeth Ram in November 2015.
Jhonny also added that revenues have been growing at 50% month-on-month (MoM), which he wants to increase by 3x through the B2B segment. The acquisition will help MyDidi in strengthening its own organic revenue stream that would reduce external fund-raising requirement.
The deal will give MyDidi access to B2B operations in Delhi, Bengaluru, and Pune in addition to its own B2C business in Mumbai.
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