Purple E-Retail India Pvt. Ltd
E-commerce platform for baby and maternity products.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
Purple E-Retail India Pvt. Ltd. was the company behind hoopos.com, an e-commerce startup founded in 2011 by Raveen Sastry, Vijay Jumani, Radhika Jumani, and Anubhav Sudha. Specializing in products for mothers, babies, and children, the platform was an online retail destination for this niche market in India. Sastry brought previous experience as a co-founder and former VP of business development at Myntra.com.
The business operated in the competitive baby care e-commerce sector, with a model focused on providing a wide selection of items, from diapers and apparel to toys and wellness products. The company received an undisclosed amount of seed funding from Helion Venture Partners in 2011.
In a move toward industry consolidation, Hoopos was acquired by its competitor, BabyOye.com, in an all-stock deal in April 2013. Following the acquisition, the Hoopos team joined BabyOye, and the Hoopos website began redirecting to BabyOye's platform. The newly merged entity also secured $12 million in a funding round led by Helion Venture Partners, with participation from Accel Partners and Tiger Global. The consolidation continued when BabyOye itself was later acquired by the Mahindra Group in 2015, and subsequently by FirstCry in 2016, making FirstCry the dominant player in the segment.
Keywords: e-commerce, baby care products, online retail, maternity products, childrens products, startup, acquisition, venture capital, India, consolidation