Gurgaon-based on-demand grocery service PepperTap on 21 December 2015 acquired Bengaluru-based hyperlocal grocery delivery startup Jiffstore in a cash-and-stock deal. However, the deal details were not disclosed.
As per the terms of deal, Jiffstore will completely merge its operations with PepperTap. Furthermore, its 40-member-team will join PepperTap's Gurgaon and Bengaluru offices.
• Jiffstore was founded by Indian School of Business (ISB) drop-out Shameel Abdulla, and his friends Aswin Ram, Satish Basavaraj and Sandeep Sreenath in 2013.
• It was also part of TLabs incubator and had raised a total of 500000 US dollars in funding from Unitus Seed Fund and Times Internet in 2014.
• PepperTap was founded by Navneet Singh and Milind Sharma in November 2014.
• It has operations in 18 cities and fulfils close to 20000 orders a day.
• It claims to have a fulfilment rate of 97-98 percent.
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What: Acquired Jiffstore
When: 21 December 2015