Mahesh Bhupathi-backed online sport store, Sports365, has acquired Tennishub.in, an online tennis store, for an undisclosed amount. With this deal, the complete team of Tennishub will join Sports365 and continue to drive the business forward.
“The acquisition of Tennishub.in will help Sports365 get closer to realizing its vision of creating a world-class online destination focused on sports and fitness. Owing to the synergies across various areas including target customers, operations, vendor relationships, the joined entity would be able to derive greater value of the tremendous opportunity that the sports & fitness segments offer in India, ” Chandra Sekhar, CEO Sports365 said during the event organised for the announcement.
Additionally, Sports365 has also launched a new portal catering to running enthusiasts called Runninghub.in and plans to launch different segments for cycling and outdoor products in the next three months.
Runninghub.in will offer a selection of running shoes, apparel, running gear and nutrition-related products. It will also allow runners to interact with experts and get advice in real time.
Sports365 had raised USD1.5 million last year from US-based venture capital firm Zolon Ventures and Powerhouse Ventures. The firm is reportedly planning to close another USD6 million in funding in six weeks.