ICICI direct acquires Multipie, an investor community based networking platform
Mumbai, Aug 05, 2022: ICICIdirect, one of India’s leading equity houses, today said that it has acquired the startup Multipie, a web and app based networking platform for the investor community which enables them to discuss, exchange ideas and share views on stocks and other investment assets. The transaction involves acquisition of Multipie App, technology, brand, domain name, user base and other related matters.
Multipie App was launched in October 2021 and has been growing at 40%+ month-on-month and enjoys a rating of 4.9 on Playstore and 4.7 on App Store. Within a short period, the Multipie community has grown to be highly engaging on the back of high quality content (newsletters, infographics, blogs etc.) and moderated discussion boards where users gain market insight. The platform is intuitive and socially integrated, enabling users to export content to their social media handles. Users can link their portfolio with the platform, allowing monitoring as well as participating in focused discussions.
Multipie has features like stock discovery ideas, import stock portfolio, content creation with stock tags, user tags with Twitter integration and others. Being social, the platform enables members follow each other and also share their portfolio only with people they chose to. There are a number of other great features in the pipeline, which shall be released over time.
This is the second such investment by ICICIdirect, post its investment in Asknbid, a start-up in the financial gaming space in October 2021, when it picked up a significant minority stake. Founded by two IIT engineers, Asknbid is focused on building algorithmic investing-based technology products. It has created ‘Dstreet Games’, a learning platform that uses engaging experience along with content and community learning to create a practical learning approach. The platform is focused on College Students, Young Professionals (Millennials, Gen Z) + Tier 2/3 Audience.
