53central.com was founded by Josy Mathew this year. Post acquisition, Mathew will join Bangalore-based Mebelkart as the head of business development and lead its new business lines of bulk selling under Mebelkart.com.
“Group Buying is expected to become phenomenally large in case of the furniture and interior design industries. This acquisition will enable us to further strengthen our position in these sectors. We will be looking at more acquisitions and acquihires in the future to grow inorganically and expand our reach to global market,” Rahul Agarwal, Co- Founder and CEO of Mebelkart said.
Founded by three young IITDelhi graduates and entrepreneurs Rahul Agarwal, Nikhil Saraf and Ranjeet Vimal in 2012, MebelKart currently sells more than 100,000 furniture products across India from more than 1,000 sellers across the country.
It received $20 million in funding from local search platform Askme.com, a Getit Infomedia company, in return for a majority stake in August as it looks to expand its service offerings to be able to evolve as an international player.
On getting Mathew on board, Agrawal said, “Josy has, over the past year, has launched and scaled up a great concept, with strong online and offline roots. We welcome Josy and his team into the Mebelkart family. We are confident that the expertise and experience of the 53central.com team will enable us to expand and strengthen our foothold as the No. 1 online retailer in the furniture industry.”
In its efforts to encourage and promote aspiring entrepreneurs, Mebelkart along with Askme.com, has also started an Entrepreneur in Residence Program with the single defined objective of working with entrepreneurs, giving them strategic knowledge, planning and mentorship.