With this development, MyDidi will absorb all the employees and the technology stack of TimeMyTask. Also, values of the merged entity is now between $10-15 Mn. The merged entity will operate under the brand of MyDidi and will enable the company to access TimeMyTask’s specialisation in intensive and B2B cleaning along with the on-demand home cleaning services that MyDidi offers.
Founded in early 2014 by Mohit Verma and Saurav Suman, TimeMyTask is an online and mobile platform for delivering on-demand and efficient home services. The startup aims to provide a reliable and affordable cleaning experience for consumers by offering customizable cleaning services fulfilled by trained and skilled workers (called ‘taskers’). Besides, it also provides services under the categories Expert Cleaning, On-Demand Home Cleaning and ‘My’ Help.
Jhonny Jha, CEO of MyDidi, told ET that, “TimeMyTask has about 10,000 customers and a fleet of 200 cleaners who will join our team. That would help us multiply our customer base by 1.5 times.” As per the deal, the acquisition will help MyDidi to get access to B2B operations in Delhi, Bangalore and Pune apart from its own B2C business in Mumbai. TimeMyTask cofounders Saurav Suman and Mohit Verma will lead the B2B segment for the new entity.
With the merger, MyDidi is looking to introduce a new category beyond the existing on-demand maids and deep cleaning services. “We plan to introduce commercial cleaning as a service. The merger will help us tackle the whole cleaning problem with three vast categories, namely on-demand maids, deep cleaning and commercial cleaning,” said Suman of TimeMyTask.
As for MyDidi, it was started in 2015 by Jhonny Jha, Sagar Sen and Tushar Jadhav. It is a platform of vetted, trained and highly skilled women professionals to address all your household service needs. Their first product ‘Spotless’ catering to the housekeeping segment, aims to bring the ‘serviced residences’ concept to every home and office. Under the ‘Didi’ umbrella, the company charges the customers based on the number of productive hours the service providers work. The startup provides its ‘Didis’ with apprentice and thorough training. It aims to become a discovery platform, similar to Uber, which connects the service providers with on-demand job requests via the mobile app.
MyDidi believes the B2B segment will be the growth spinner for the entity. “(Revenues) have been growing at 50% MoM. The idea is to increase the revenues by 3x through the B2B segment on both operational and fixed costs. The acquisition will help us strengthen our own organic revenue stream that would reduce external fund-raising requirement,” said Jha.
MyDidi is also looking to raise its Series-A round funding by March-April. With ticket sizes in the B2B sector ranging between Rs 3,00,000, and Rs 50,000 and average order value of Rs 1,500 in the segment, the company is targeting profitability in the next 4-5 months.