HomeShop18, the 24 hours shopping channel, is acquiring Coinjoos.com. Coinjoos.com (formerly known as Flipgraph) is owned and operated by OnGraph Technologies Pvt Ltd, an outsourcing and web development firm based out of Noida. The acquisition only involves sale of Coinjoos.com and other services/assets of OnGraph Technologies are not being acquired.
HomeShop18 currently is ranked second in the country behind eBay in terms of site traffic. With this acquisition HomeShop18 is looking to sell its huge inventory of books. CoinJoos.com allows members to buy and sell their books online. Started in Nov 2009, Coinjoos.com has a staff of about 15 people that look after the technology and the operations. This staff will move to HomeShop18.
The deal size has not been announced. It is expected that the transaction will be completed in next 1 month. HomeShop18 is a SAIF Partner backed venture who have invested $26M in the company. Other firms that have invested in HomeShop18 include Capital18 Fund and GS Home Shopping.