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Fabmall.com has acquired the US based India focused retailer Indiaplaza.com. If you remember, Fabmall.com had been named Indiaplaza.in,so this was more or less expected. The combined business will operate under the brand name Indianplaza, and will be managed from India, and have operations in both India and the US. K Vaitheeswaran, COO of Indiaplaza says that they’re looking to build a $100 million company by 2009.
Indiaplaza has business alliances with several Indian media corporations including NDTV, Business Standard, Malayala Manorama and others. Indiaplaza had received funding from the Indigo Monsoon Group (IMG), which has also invested in Sulekha.com and eshakti.com.
One of our readers, Ravi Venkatraman had mentioned in a comment earlier that “some of the Fabmall.com stakeholders also have stakes in Indiaplaza.com”. Earlier, there had been news of Fabmall.com having been acquired by the Aditya Birla Group, along with the offline retailing venture Trinethra, but that news was deemed incorrect by K Vaitheeswaran.
– Fabmall & Parent Co Acquired By AV Birla Group? Not Fabmall.com, Says K. Vaitheeswaran