Ecommerce platform Jabong will be launching its first technology lab this week in Bangalore. The company plans to hire 100 employees with appreciable technology skills for this purpose, of which 25 have already been hired. The employees would work across different streams to realise Jabong’s dreams of innovating across multiple platforms.
CEO of Jabong, Praveen Sinha quoted, “The main focus of the lab is to innovate and focus on a lot of features using information technology and create a centre which focuses more on innovations three or five years ahead of what we’re doing today.”
The futuristic R&D enabled lab will focus on architecture. In addition to this new lab, Jabong already has a dedicated research and development centre in Gurgaon.
This move by Jabong comes in response to its fellow competitor online retailers who have also been recently active in announcing technology related products and tools. Snapdeal, last October announced its plans of build a big data platform to analyse consumer behaviour. Flipkart is also reportedly looking to acquire tech related startups.
Jabong is a part of a global group after its investors German venture capital group Rocket Internet and with Swedish investor Kinnevik announced a merger of five emerging market fashion startups. The merged entity i.e. Global Fashion Group (GFG) is worth about 2.7 Bn euros or INR 21k Cr.
As per a regulatory filing by Rocket Internet, Jabong is valued at over 388 Mn euros, or $500 Mn (INR3,000 Cr.)
Earlier, there were rumours that Amazon might acquire Jabong to get a strong foothold in fashion category.