Mumbai, India based online photo service company, ZoomIn has acquired San Francisco,US-based firm Photojojo for an undisclosed amount. The aquisition is a move from company in order to strenghten its presence in global market especially US, Australia and Singapore.
The acquisition is being financed by fresh funding round of Rs 50 crore led by existing investor Lightbox Ventures with participation from First Round Capital and Gund Investments. ZoomIn earlier raised Rs 80 crore in venture capital and debt funding.
ZoomIn earlier raised Rs. 800 crore in venture capital and debt funding from Silicon Valley Bank.
Photojojo, founded nine years ago, was an internet startup founded by Amit Gupta was an Indian too. Photojojo publishes newsletter on photography and it has community of around 2 million mobile photography enthusiasts who have subscribe to its newsletter and also engage on social media platforms such as Instagram, Facebook, Twitter, and Tumblr. Photojojo also sells mobile photography-related products.
After acquisition, Photojojo's team of 20 will be integrated with ZoomIn.
Founded in 2007 by Sunny Balijepalli Rao, ZoomIn claims to be India's no.1 photo service offering a wide range of photobooks, professional quality photo prints and great photo gifts. Recently, ZoomIn has also launched specialty camera store selling extensive selection of cameras, accessories and camera phones. The company also claims to have over 1,000 deliveries a day.
Sunny Balijepalli Rao, founder of ZoomIn had earlier co-founded Half.com, which was acquired by eBay for $350 million in 2000.
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