bakfy_acquisition

In a first Indian startup acquisition of this year, Gurgaon-based real estate portal CommonFloor has acquired Bengaluru-based college campus gossip app Bakfy, in a cash-cum-equity deal.

Bakfy team will join CommonFloor as Entrepreneurs-in-Residence (EIRs), and will work closely with its founders to build social and mobile products. Bakfy is an anonymous app for college campuses to share campus gossip, rumors, secrets, jokes/memes - all anonymously.

One-year-old Bakfy is a product of its Bangalore-based parent company Nativebeta Pvt Ltd launched by NIT & DCE alumni - Niranjan Bala, Rajesh Eswarlal and Ashutosh Garg. Bakfy is a part of 10,000 Startups program, an initiative of NASSCOM.

"Bakfy chose to be acquired by CommonFloor because of the opportunity in the real estate space, which is immense," said Garg, who met CommonFloor founders at a hackathon and both the companies closed the deal quickly.

Available as an app for Android and Windows platform, Bakfy is a hyper local Twitter-like social app for college campuses that lets you post anything on its platform and that too anonymously. Bakfy puts the entire college under one roof, without any friend requests. Students can also post anonymously and share stuff, which they can't do on Facebook, WhatsApp, etc.

Bakfy is currently active in over 50 colleges across India including NIT Srinagar (J&K), VIT Vellore (TamilNadu), DAIICT (Gujrat) and IIT Guwahati (Assam) however due to its nature of content the app has also got banned among 5 universities across India.

The startup have also been approached by many young professionals. Soon they will launch the app in schools and non-engineering colleges. They are exploring corporates as well as an anonymous app for companies and organizations.

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