November 02,2015 : Hyper-local home services company Taskbob today has acquired peer Zepper. The deal which is showing signs of consolidation in the hyper local services space is said to be a “a merger of assets deal” with Zepper planning to shut down its services.
TaskBob which is owned by Crenovative Ideas Pvt Ltdis currently operational in Mumbai and processes around 700 orders in a day here. as a part of the transaction, TaskBob will now own Zepper’s 300-400 service professionals catering to 2500 customers. This acquisition will help the company enter the extremely lucrative and extremely competitive Bangalore market where it will compete with HouseJoy and Timesaverz,companies with whom TaskBob competes even in Mumbai .
In AprilTaskbob had raised $1.2 million from Orios Venture Partners and Mayfield Fund.
The hyperlocal services market is in an extremely competitive space in India with 10-15 funded players operating in the market right now. The hyperlocal services space is said to be a$ 50 billion market with almost 70 startups competing right now in this space. Home services is a part of the hyper local services space.