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acquisition 2015-11-05

Bengaluru-based start-up Gomalon takes over Bookmyspa in an equity deal of Rs 12 cr

Post acquisition deal, the Bookmyspa website that gets about 40 appointments a day, will continue to exist and take bookings for the next six months.

Bengaluru-based start-up Gomalon takes over Bookmyspa in an equity deal of Rs 12 cr

Bengaluru-based Gomalon is a wellness start-up listing services, has acquired two-year old salon and spa booking portal Bookmyspa for Rs 12 Crore in an equity deal.

The six month start-up has elaborate plans to use assets of Bookmyspa and its user base to perk up consumer experiences in wellness industry.

Former head of marketing at Myntra, Sanjay Ramakrishnan is the director and Sudarsan Rao, founder of venture-advisory firm Iyara Ventures is the advisor at Gomalon.

"We wanted to scale further and needed a strong board guiding us on it. With Gomalon, it all fell in place,” said Sriharsha BK, who founded Bookmyspa, which operates in Bengaluru and Hyderabad.”

With this, Gomalon now has the strength of over 2,000 vendors listed on the platform and an experienced team that understands the space very well," said Sriharsha, the new head of Product Management at Gomalon, who was joined by his core-team at Bookmyspa.

The bookmyspa website, which gets about 40 appointments a day, will continue to exist and take bookings for the next six months.

Kumar of Gomalon estimates that the wellness industry in India is worth about $100,000 and is growing at 20 per cent annually.

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