Amazon backed home services
provider, Housejoy, has acquired Orobind, an at-home personal fitness startup,
in an all-stock deal as it looks to grow its presence in the fast growing
health and wellness space.
The acquisition of Orobind is the
second such deal Housejoy is closing in less than a month’s time, spurred by
the $23 Million funding round the company closed in December which was led by
Amazon. While the exact terms of the deal have not been disclosed, most of the team
at Orobind will join Housejoy.
Orobind, which currently operates
exclusively in Bengaluru, has over 1000 customers and 135 active fitness
trainers on its platform. The acquisition will help Housejoy scale its own
personal fitness business which it currently offers in 5 cities across India
with 5,000 subscribers. Fitness and wellness is a highly lucrative category for
most of the home services players primarily because of high repeat rates and
high customer lifetime, value but to leverage it one must have a highly
differentiated product.
Rather than looking to expand its offerings
to more cities in the country, Housejoy plans to consolidate its business and
dwell deeper into each business vertical in each of the cities it’s already
present in. The company currently aggregates service providers for pest
control, drivers, beauty, electronic repairs etc. and is building its own
presence in high-demand categories such as fitness, beauty and laundry.
