Bengaluru: Instamojo, a full-stack solutions provider for MSMEs, today announced its first ever acquihire of Bengaluru-based virtual theatre and vernacular content platform, Showman.
The acquihire will see the on-boarding of the founding member team of Showman. Kshitij Bhatawdekar, Cofounder & CEO of Showman joins Instamojo as Product Manager, while Rutveez Roopam Rout, Cofounder & COO of Showman joins as User Research Manager.
Focused on empowering the Indian MSME sector, the Instamojo platform offers products and solutions which enable small businesses to achieve digital independency.
Through the pandemic, the company introduced several products to address the timely need of small businesses that were grappling to survive, and consequently recorded a 25 per cent growth in merchant base.
Early last year, the company acquired GetMeAShop (GMAS), an e-commerce enablement firm backed by Times Internet, and closed its Pre-Series C round of funding later in 2020.
Founded in 2019, Showman operates a virtual theatre that enables users to buy movie tickets online and watch it from the comfort of their homes. The company recently clocked a compound monthly growth rate of 73.2 per cent and has negotiated $30Mn worth of movie contracts across Indian film industries.
Passion Connect, an HR Advisory Unit incubated by Blume Ventures, played a vital role in this acquihire. Led by Sanam Rawal, Passion Connect implements innovative hiring techniques to find the perfect employee-employer fit for their 110+ portfolio startups. The Acquihiring vertical, led by Swati Gupta is one such technique.
According to Sanam Rawal, Lead Talent Advisor at Passion Connect, and Swati Gupta, Lead Acquihiring at Passion Connect, “When we first spoke to Kshitij, we saw a spark – a drive to solve real-world problems faced by the people of India. While Showman was a great product, we absolutely loved their talent and saw potential in their vision. Since we have keen insights into Blume Ventures portfolio companies, we felt that this is exactly what Instamojo is looking for in a team. Once we introduced Kshitij to Akash, the Cofounder at Instamojo, there was no looking back! We wish both teams abundant success in their goal to make products that positively impact the lives of millions of Indians.”