Updated: Snapdeal has confirmed that it has picked up a minority stake in the logistics company Gojavas, however, it didn’t disclosed the amount it has invested in the company.
“We believe that supply chain is the back bone of ecommerce and for ecommerce companies to be successful it is important to develop this ecosystem. We have thus, entered into a strategic partnership with GoJavas to strengthen our supply chain infrastructure for the future. This is a minority investment by Snapdeal,” Snapdeal said.
Earlier: Snapdeal seems to be heavily betting on acquiring startups now. Just last week, there were reports stating that the ecommerce company is in final stages of acquiring recharge platform Freecharge, now according to multiple media reports, Snapdeal is in final stages of acquiring logistics firm Gojavas for about INR 200 Cr. in a bid to strengthen its delivery network.
However, Snapdeal has denied any such news and said that it has entered into a “strategic partnership” with the company. “I am writing to you to clarify that while Snapdeal and GoJa vas have entered into a strategic partnership, this is in not an acquisition or buy out,“ the Snapdeal statement states.
Gojavas was the logistics arm of Jabong and was launched a separate entity in 2013. It was among the first delivery startup which introduced the concept of Try and Buy. The company currently serves companies including Healthkart, Yepme, among others. The startup has spanned over 107 cities and serve around one lakh customers on a daily basis.