ICICIdirect acquires investor community-based networking platform Multipie

• ICICI Bank subsidiary ICICIdirect has acquired Multipie for an undisclosed amount.
• The transaction involves 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 views on stocks and other investment assets.

Broking firm ICICIdirect, which is a subsidiary of ICICI Bank, on Wednesday said it had acquired Multipie – a web and app-based networking platform for the investor community – for an undisclosed amount.

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

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

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

The platform is said to be intuitive and socially integrated, enabling its users to export content to their social media handles. Users can also link their portfolio with the platform, which allows them to monitor their portfolios as well as participate in focused discussions.

Being social, the platform enables members to follow each other and also share their portfolio only with people they chose to.

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

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