ICICIdirect acquires investor community networking platform Multipie


NEW DELHI: ICICIdirect announced on Wednesday that it has acquired startup Multipie – a web and app-based networking platform for the investment community that allows them to discuss, exchange ideas and share views on stocks and other investment assets.

The transaction involves the acquisition of Multipie App, technology, brand, domain name, user base and other related matters, according to the press release.

“The Multipie app, which launched in October 2021, grew over 40% month-over-month and enjoys a 4.9 rating on Playstore and 4.7 on App Store. In a short time, the Multipie community has become very engaging thanks to high quality content (newsletters, infographics, blogs, etc.) and moderated discussion forums where users get insight into the market. The platform is intuitive and socially integrated, allowing users to export content to their social media handles. Users can link their wallet to the platform, allowing for tracking as well as participation in focused discussions,” the company said in a statement.

ICICIdirect said that Multipie has features like stock discovery insights, import stock portfolio, content creation with stock tags, user tags with Twitter integration and others. The platform also allows members to follow each other and share their portfolio only with people they choose. There are several other features in the pipeline, which will be released over time, according to the stock trading platform.

This is the second such investment by ICICIdirect, having acquired a significant minority stake in Asknbid, a startup in the financial gaming space in October 2021.

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