Online marketplace, Snapdeal.com, has acquired online order management startup, Unicommerce for an undisclosed amount, says a Mint report. As per the report, Snapdeal, separately, is also investing about INR 25 Cr. in its wholly owned logistics unit, Vulcan Express Pvt. Ltd.
Launched in 2012 by three classmates from IIT Delhi, Ankit Pruthi, Karun Singla and Vibhu Garg, Unicommerce enables ecommerce merchants of all sizes to sell more by making it easy for them to manage selling at multiple marketplaces and carts. It’s flagship product, i.e. Uniware manages the complete order fulfillment lifecycle by providing updates and by automating everything from order placement by the customer till the time they receive their order. Its services have been used by couple of ecommerce companies in the country including Myntra, Snapdeal, Jabong, Groupon among others.
The reports of the acquisition was in media since last year, December. In November, news of Unicommerce raising $10 Mn in Tiger Global had also sufficed in the media. But, with the news of acquisition which came in a month later, there were also rumors that the Delhi-based startup has returned the funding that it had raised from Tiger.
In 2013, Unicommerce had raised an undisclosed amount in funding from Nexus Venture Partners. Snapdeal co-founders Kunal Bahl and Rohit Bansal are also angel investors in the startup. Startups including Browntape, KartRocket are also dealing in this space.
Snapdeal Acquisition Spree
Since past few months, Softbank backed, Delhi-based Snapdeal have been seen on a buying spree. Just few days back it acquired 20% stake in logistics firm Gojavas for about INR 120 Cr. and is also said to be in final talks to acquire Freecharge.
Snapdeal’s other acquisitions include Grabbon.com, esportsbuy.com, Shopo.in, Doozton.com, Smartprix, Exclusively.in.
Snapdeal is also said to be in talks with Alibaba for raising a $1 Bn funding round and is aiming for a valuation of at least $5 Bn, at the moment, the 5 year old company is currently valued somewhere between $2-2.5 Bn. In total, is has raised about $1 Bn in funding in multiple rounds, it’s investors include eBay, Softbank, BlackRock, the Ratan Tata, PremjiInvest, Myriad Asset Management, Tybourne Capital among others.