The Chennai-based AnyCommerce is looking to acquire 2-3 start-ups in Chennai and Bengaluru in a bid to consolidate its e-commerce presence.
Founded by Senthil Nayagam, the company already has two e-commerce firms in its fold when it merged online food delivery network GoGrab in September and online lending library iLoveRead in December with itself.
“E-commerce is all about scale. So, we are looking at bringing more companies into our fold so that synergies such as getting into delivery network and cross selling emerge,” said Mr. Senthil Nayagam, Founder and CEO. Prior to AnyCommerce, Mr. Nayagam co-founded a services firm RailsFactory in 2006, which helps start-ups build their mobile application. Mr. Nayagam has stepped down from RailsFactory to run Anycommerce.
GoGrab plans to add 300-350 restaurants in the next 6-8 months.
“For iLoveRead, plan is to change it into a profit-oriented firm. I see a good synergy between food and reading,” said Mr. Nayagam.
Mr. Nayagam said that so far he had been investing his personal money in AnyCommerce. He would look to raise money by diluting his stake in RailsFactory in next 3-5 years.
