Friday, August 12, 2022

ICICIdirect acquires investor-based network platform Multipie

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  • ICICI bank subsidiary ICICIdirect has come into possession of Multipie for an undisclosed amount.
  • The transaction includes the acquisition of the app, technology, brand, domain name, user base and other related matters.
  • Founded in October 2021, the Multipie app is a platform where people can discuss, exchange ideas and share opinions about stocks and other investment assets.

Brokerage firm ICICIdirect, a subsidiary of ICICI Bank, said Wednesday that it had acquired Multipie — a web and app-based networking platform for the investor community — for an undisclosed amount.



The transaction includes the acquisition of the app, technology, brand, domain name, user base and other related matters.

This is the second such investment by ICICIdirect, after the investment in Asknbid – a startup in the financial gaming space – in October 2021. It had taken a minority stake in the company.

Founded in October 2021, the Multipie app is a platform where people can discuss, exchange ideas and share opinions about stocks and other investment assets. The company is growing at 40% plus month-over-month and has a rating of 4.9 in the Playstore and 4.7 in the App Store.

The platform is said to be intuitive and socially integrated, allowing users to export content to their social media handles. Users can also link their portfolio to the platform, allowing them to track their portfolio and participate in targeted discussions.

Since the platform is social, members can follow each other and also share their portfolio only with people they have chosen to do so.

The target audience is students, young professionals (Millennials, Gen Z) and investors in tier 2 and 3 cities.

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