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Zoomin Buys Photojojo
August 27,2014
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Indian consumer internet startups are increasingly looking to go global using smartphone platforms. Mumbai-based photo printing company ZoomIn is expanding to developed markets like the US, Australia and Singapore after building a strong presence in the Indian market. To give a fillip to expansion plans, ZoomIn has acquired San Francisco-based firm Photojojo, which will strengthen its team for a global rollout. While the deal size was not disclosed, the acquisition is being financed by fresh funding round ofRs 50 crore led by existing investor Lightbox Ventures with participation from First Round Capital and Gund Investments. ZoomIn earlier raised Rs 80 crore in venture capital and debt funding. Photojojo, which begun nine years ago, has built a community of more than 2 million mobile photography enthusiasts who subscribe to its newsletter and also engage on social media platforms such as Instagram, Facebook, Twitter, and Tumblr. The venture, started by Amit Gupta, also sells mobile photography-related products. The combined venture is expected to reach Rs 180 crore in revenue in the coming fiscal year. "In order for ZoomIn to be successful internationally, we have to understand customer behaviour, build a community and generate unique content, which could only be done by an experienced team and we were on the lookout for that," said Sunny Balijepalli Rao, founder and CEO of ZoomIn, adding that Photojojo's team of 20 will be integrated with ZoomIn. Rao had earlier co-founded Half.com, which was acquired by eBay for $350 million in 2000. ZoomIn delivers photo prints and albums from your digital photo collection and mugs, frames and magnets with photos. The seven-year old company makes over 1,000 deliveries a day. Read More

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