Last Updated on March 11, 2021
Nepal’s Number 1 classified shopping portal, Hamrobazar has been acquired by the Movers and Shakers (MNS) investment. The MNS investment acquired the Hamrobazar at the whopping price of 10 crores. After the acquisition, they have also announced to have appointed Mr. Rohit Tiwari as the next CEO of the Hamrobazar platform.
MNS investment released a statement stating “We have always marvelled at how Hamrobazar has remained the unquestioned leader of Nepal’s digital marketplace and we believe that we can take the company to even greater heights,”.
Movers and Shakers (MNS) Investment
MNS Investments is a corporate group of companies that includes a portfolio of small to medium enterprises co-existing together by forming an ecosystem of technology-enabled companies and entrepreneurs. Many companies like Foodmario, VMAG, Next Venture Corp, Uptrendly, ETON, are also associated with the Movers and Shakers. Hamrobazar is also now under the umbrella of MNS investments, making it one of the biggest deals in the digital industry of Nepal.
What is Hamrobazar?
Now, about the Hamrobazar, it is the most popular classified shopping portal of Nepal. The portal allows individuals as well as companies to list a wide variety of new or used products online for free. You can sell and buy new as well as old (second-hand) products. The variety of products includes electronics, automobiles, accessories to tour packages as well. It has helped Nepali users who want to buy or sell old/new items.
Prabal Saakha, The Founder of Hamrobazar says in his statement, “For a little over a decade, my team and I have managed and grown Nepal’s foremost online market company. Now, I am pleased to announce that we have sold HamroBazaar to MNS Investments”.
He further adds, “I am especially grateful that this deal has been made with MNS because the team spearheading its ecosystem of diverse tech-enabled companies practices a dynamic management style that is perfect for unleashing HamroBazar’s true potential. I am confident that MNS is the ideal steward for leading HamroBazar into the future”.
Appointment of New CEO in Hamrobazar
MNS also announced that they have appointed a new CEO for the Hamrobazar. The company has given the role of CEO to Mr. Rohit Tiwari who is also co-founder of the Foodmario.
Foodmario is the online food delivery platform that connects the home chefs with the customers inside the Kathmandu valley. Foodmario is itself a part of the MNS portfolio. Also, read the best food delivery sites in Nepal.
The platform also announced stating, “With MNS Investments acquiring HamroBazar to take Nepal’s digital marketplace to greater heights — Foodmario has also expanded its mission and become a part of HamroBazar. Subsequently, HamroBazar will now be led by our Co-founder and CEO, Mr. Rohit Tiwari. We are extremely excited about two teams becoming one.”
We are happy that the MNS has expanded its portfolio with the acquisition of Hamrobazar. MNS will surely bring more positive changes to the Hamrobazar. MNS now can change the layout of the webpage and can bring a new UI (User Interface) to the website and the mobile app which will bring better UX (User Experience) to the users. Plus whole lotta good stuff to expect from the investment of MNS, which holds one of the growing digital landscapes in Nepal.
Tell us what do you think of this acquisition of Hamrobazar by MNS? Will it do any good to the platform we all have been using to buy and sell stuff? Please comment below.
