Hyderabad based Zaggle buys Pennyful in a cash and stock deal

Hyderabad based Zaggle buys Pennyful in a cash and stock deal

Posted by Vivek Nama on April 10th 2017

Hyderabad-based Zaggle Prepaid Ocean Services Pvt. Ltd, which operates digital payments, cashback and analytics company Zaggle, has bought Coupons Company Pennyful in a cash and stock deal, according to  company statement .
The acquisition will help Zaggle offer comprehensive benefits to consumers and corporate employees, and develop technology products and solutions, it said in a media statement. Post the acquisition, the 20-member Pennyful team will join Zaggle’s digital marketing, product and technology teams, the press statement added.
“I am extremely pleased to announce that Zaggle is moving towards an omni-channel marketing platform post acquisition of Pennyful. Zaggle, over a period of five years, has built a huge repertoire of B2B clients. The focus is on the B2B2C market of over 25 million customers, and we want to create more and more value for this set of consumers,” said Raj N Phani, founder of Zaggle .
Also see  Zaggle at Startup2day EXPO https://youtu.be/Mj2GrZyukuo
Zaggle was founded in 2011 by Phani and currently has six offices across India with over 1,000 corporate clients and over 1,500 merchants on board.
Bengaluru-based Pennyful Online Pvt Ltd, which runs Pennyful, was founded by engineering graduate Ravitej Yadalam in 2011 in the US. The firm entered the Indian market in November 2012. The cashback and coupons company has 1,000 brands and claims to have customers from more than 800 cities. Source VCCircle.com


Gaurav Shah
April 17th 2017

Hi Can someone help understand what was the deal size ? And what percentage was in cash and how much was it in stock. Regards Gaurav

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