Is Amazon acquiring app aggregator Tapzo?
According to industry reports, Tapzo has been in advanced talks with Amazon for its acquisition by the latter. It is said that both Amazon and Tapzo have been in talks for over four months.
Sequoia Capital-backed Tapzo began talks with Amazon in April this year. Both the companies have given the green signal for the deal. If nothing goes wrong from here then the acquisition could be announced by the next month. However, the initial discussion didn’t take off owing to the valuation offered by Amazon to Tapzo, with fresh discussions starting only in July.
Tapzo is a super app which allows users to access more than 35 apps, such as Flipkart, Amazon, Ola, Uber, and others. As a part of its new business line, users can recharge mobile, DTH and data card, make bill payments, order cabs and food, book flight and bus tickets amongst many other things on a new technology layer that it is offering.
Company has gone through several rebrandings since its inception in 2010. It was called Akosha initially when it used to be an online customer feedback platform. Five years later, it re-branded itself to become Help Chat, a chat-based personal assistant.
So far, Tapzo had raised over $33.5 million risk capital across five rounds from the likes of Sequoia Capital, RB Investment, and American Express amongst others.
After raising $16 million Series B round in May 2015, the Delhi-based company had failed to entice investors for decent follow-on rounds. For instance, it raised a $10.5 million Series C round along with a small $1.93 million bridge round in January this year. If the deal goes through, it would be an eventful outcome for the company.