ICICIdirect Acquires Investor Community-based Networking Platform Multipie

Broking company ICICIdirect , a subsidiary to ICICI Bank, announced that it had purchased Multipie - a web- and app-based networking platform, for an undisclosed sum. This transaction includes acquisition of the app technology, brand, domain, user base, and other related matters.

This is the second such investment made by ICICIdirect. It was the first one since its October 2021 investment in Asknbid - a startup operating in the financial gaming sector. It had acquired a minority stake in company. The Multipie App was launched in October 2021. It is a platform that allows people to discuss, exchange ideas, and share their views on stocks and other investments. The company's growth rate is 40% month-on-month. It has a rating of 4.9 in Playstore, and 4.7 in App Store.

It is intuitive and socially connected, so users can export content to their social networks. The platform allows users to link their portfolios with it, which allows them monitor their portfolios and participate in focused discussions. It targets college students and young professionals (Millennials, Gen Z), as well as investors in tier 2/3 cities.

Multipie App was launched in October 2021. It has seen a 40%+ increase in monthly usage and has a rating of 4.9 and 4.7 on App Store. Multipie's community has become highly engaged in a short time thanks to high-quality content (newsletters and infographics etc.). Users gain market insight through moderated discussion boards. It is easy to use and socially integrated. Users can export content to their social networks. The company stated that users can link their portfolio to the platform. This allows them to monitor and participate in focused discussions.