ICICIdirect acquires investor community-based networking platform Multipie

Investment platform ICICIdirect on Wednesday said it has acquired Multipie, a web and app-based networking platform for the investor community, that allows its users to exchange ideas and share views on stocks and other securities.

The transaction involves acquisition of Multipie App, technology, brand, domain name, user base and other related matters, ICICIdirect said in a statement.

However, the financial details of the deal were not disclosed.

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.

ICICIdirect, the leading retail broker and financial product distributor in the country, has over 50 lakh customers.

Multipie App was launched in October last year and has been growing at the rate of 40 per cent month-on-month. It enjoys a rating of 4.9 on Playstore and 4.7 on App Store.

It has features like stock discovery ideas, import stock portfolio, content creation with stock tags, user tags with Twitter integration and others.