FirstCry Acquires BabyOye; Raises $34 Mn

Online baby products retailer FirstCry has agreed to acquire auto-to-software conglomerate Mahindra & Mahindra Ltd’s baby-care business BabyOye in a cash-and-stock deal that will help it consolidate its presence in the growing segment through an omni-channel strategy.

Sanchit Vir Gogia, Chief Analyst and CEO at research firm Greyhound Research, concurred with Sharma. “The future is a hybrid model, a combination of online and offline,” Gogia said. “The combined entity is strategically inclined toward that.”

Source: VCcircle

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