Saturday, June 1, 2013

Snapdeal acquires e commerce website Shopo

Online marketplace today said it has acquired designer handcrafted items shopping website for an undisclosed price. 

Snapdeal expects the acquisition to provide a broader customer base to the sellers of Shopo, which claims to have over 1,000 sellers on its platform, it said in a release. 

"The Indian designer and handicrafts market is large but highly fragmented and the demand for such products is tremendous. Snapdeal's mission is to provide a platform for small businesses across India to be able to sell to consumers nationally," Snapdeal co-founder and CEO Kunal Bahl said. 

Shopo has built a wide assortment of handcrafted products across categories like apparel, accessories, home decor, among others. Snapdeal will enable the same merchandise to be covered by TrustPay, he added. 

"With this acquisition, we will now provide these unique products at great prices to Snapdeal's 20 million members and warmly welcome Shopo's sellers to leverage Snapdeal's nationwide reach," Bahl said. 

Launched in February 2010, Snapdeal employs over 1,500 people and delivers to more than 5,000 cities and towns in India.

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