- 15 Sep 2022
- ICICIdirect Research
MAPMYINDIA ACQUIRES 26% STAKE IN KOGO TECH LABS
MAPMYINDIA - 1651 Change: -50.60 (-2.97 %)News:
Mapmyindia informed the stock exchanges that it has acquired a 26% stake in Kogo Tech labs. Kogo Tech Labs is a subscription based social travel commerce platform. On the travel platform, it allows you to plan your road/taxi/cycle/walking trip by curating the best offers. It also has a social platform wherein you can share photos/experience of the trips, etc, while on the commerce platform, you can buy roadside assistant services/ambulance services for the duration of the trip planned.
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The investment may deepen MapmyIndia’s automotive OEM portfolio (where it is planning to integrate Kogo platform into mapples N-CASE platform), enabling in-vehicle commerce, discovery, community engagement and brand stickiness. The investment may also help MapmyIndia to drive pricing growth in the future. However, the valuation looks steep at 27x price to sales.
Impact:
Neutral.