Domestic Help Provider Mydidi Acquired Mumbai Based TimemyTask In All Stock Deal

Domestic Help Provider Mydidi Acquired Mumbai Based TimemyTask In All Stock Deal

On-Demand Domestic Help Provider, Mydidi, has acquired Mumbai-based TimemyTask that runs an on-demand home cleaning services platform in an all-stock deal.

As per the deal, Mydidi will acquire all the workers and technology of TimemyTask and the company will run under name of MyDidi.

Domestic Help Provider Mydidi Acquired Mumbai Based TimemyTask
Domestic Help Provider Mydidi Acquired Mumbai Based TimemyTask

The deal value will be about $10-15 Millions, the first acquisition of MyDidi since their existence.

TimemyTask was founded in March 2014 in mumbai by IIT graduates Mohit Verman and Saurav Suman. The company is a B2B cleaning service which operates in Mumbai, Pune, and Bangalore. It is an online and mobile platform for delivering on-demand and efficient home services. They offer reliable and quality service for cleaning and other household services by trained and skilled workers.Their mission is to improve the quality of living and life with technology and human value.

MyDidi which had raised $150K in seed funding from Jozef Bardik, Leo Wang and Sangeet Ram in November 2015 is looking to raise its Series A round by March-April. On the other hand, In February 2016 TimeMyTask had raised an undisclosed amount in a round of funding to expand to more suburbs of Mumbai and launch the technology applications for both customers and cleaners.

On the acquisition, Saurav Suman, the CEO of TimemyTask said “We will lead the B2B segment operations for the new entity. We are looking to introduce new categories of services which will include commercial cleaning services as well.”

On-Demand Domestic Help Provider, Mydidi has acquired their rival TimemyTask in an all-stock deal.

As per the deal, Mydidi will acquire all the workers and technology of TimemyTask and the company will run under name of MyDidi.

The Mumbai-based startup, TimemyTask was founded in March 2014, by IIT graduates Mohit Verman and Saurav Suman.

MyDidi.in provides hourly home cleaning services that can make your home spotlessly clean. This acquisition will help the company to explore their B2B operations in Mumbai, Bangalore, and Pune.

Jhonny Jah, CEO of MyDidi.in said “ Timemytask has about 10K customers and a fleet of 200 cleaners who will join our team. That would help us multiply our customer base by 1.5 times. The revenue has been increased by 50% month-on-month. We will be looking to triple our B2B segment so that it will help in strengthening our organic resources and reduce the external fundraising requirement.”

After the growth of on-demand maid services and shutdown of service provider startup-Taskbob, it will be a good opportunity for Mydidi to perform in the cities.

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