multipie: ICICIdirect acquires the Multipie investor networking platform

Equity firm ICICIdirect said Wednesday that 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 disclose the extent of the agreement.

Multipie, launched in October 2021, claimed to have experienced growth of more than 40% on a monthly basis.

The startup says its community has become very engaging thanks to high-quality content (newsletters, infographics, blogs) and moderated discussion forums for market insights.

The platform allows users to link their wallets and export content to their social media handles.

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This is the second investment of its kind by ICICIdirect after acquiring a minority stake in Asknbid, a startup in the financial games sector, in October 2021.

Founded by two IIT engineers, Asknbid focuses on creating algorithmic investment products.

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