multipie: ICICIdirect acquires investor networking platform Multipie

Equity house ICICIdirect said on Wednesday it has acquired Multipie, a networking platform for investors to discuss and exchange ideas on stocks and other investment assets.

The transaction involves the acquisition of Multipie App, its technology, brand, domain name, and user base, among other things.

ICICIdirect did not reveal the size of the deal.

Multipie, launched in October 2021, said it has seen more than 40% month-on-month growth.

The startup claims its community has become highly engaging owing to high-quality content (newsletters, infographics, blogs) and moderated discussion boards for market insights.

The platform lets users link their portfolios and export content to their social media handles.

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This is the second such investment by ICICIdirect after it picked up a minority stake in Asknbid, a startup in the financial gaming space, in October 2021.

Founded by two IIT engineers, Asknbid is focused on building algorithmic products for investing.

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