Myntra Aquires Cubeit and Absorbs Staff

Myntra has just acquired Bangalore-based mobile aggregator app Cubeit for an undisclosed amount of money. As part of the acquisition, Myntra is not just taking over the company but absorbing its workforce as well. Many are seeing this as Myntra’s strategy to strengthen their IT and expand its presence.

About Cubeit

Cubeit is a content aggregator app that helps you collect content of your choice, link news and save it in one place. Watch a video on Youtube, learn more about it on Reddit, follow news, write your opinions,stay up to date and share it.

Cubeit was founded in 2014 by a three-people team of Sarthak Jain, NithinkumarGadiparthi and PrathameshJuvatkar.

Myntra’s Aim

Myntra plans to upgrade the user experience by using technology. Myntra is aggressively working towards becoming profitable by this year end and also plans to reach $1 billion GMV by March 2017.

Earlier Myntra had acquired two more technology driven startups- Native5 and Fitiquette. While Native5 was a Bangalore-based mobile app development company, Fitiquette was a San Fransisco-based technology solutions provider developing virtual measurement and fitting room.

Takeaways:

• Myntra has just acquired Bangalore-based mobile aggregator app Cubeit for an undisclosed amount of money.
• Myntra is not just taking over the company but absorbing its workforce as well.
• Cubeit is a content aggregator app that helps you collect content of your choice, link news and save it in one place.

What are your views about Myntra’s strategy? Share your thoughts in the comments section below.

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