Update2: Zippr’s founder, Aditya in an emailed response, said, “The news is pure speculation and no discussions are ongoing between Amazon and us.”
Update1: According to a source close to the development, who is also an existing investor in the company, there are no such talks going on between the companies.
We have reached out to the founders, will update shortly.
Previously:
Online retail giant Amazon has reportedly picked up a stake in Hyderabad-based startup, Zippr, for an investment of about $6 Mn.
Zippr is a mobile-based application that helps users solve the problem of explaining complex addresses in short 8-character codes. The platform is used by companies like Commonfloor etc.
Zippr was founded in 2013 by Aditya Vauchi and is owned by Ten20 Infomedia Pvt Ltd. The company had raised over $1 Mn in its seed round from Indian Angel Network in October last year.
Zippr is a central location management service that helps users to pinpoint exact locations anywhere on the globe, create a short 8-character code (Zippr) and easily share them with friends/vendors eliminating low-value conversations around addresses/directions. Zippr is available on Android, iOS and webapp platforms.
Ahmedabad-based wWhere is another startup operating in the same space.
As per BL, Zippr will use the funds to expand its technology infrastructure and scale up its team.
This will help Amazon to speed up their delivery process and with the help of Zippr’s pinpoint codes, delivery boys will be able to find the customer’s address without seeking directions.
This will be Amazon’s third investment in India. Prior to this, it had invested $10 Mn in QwikCilver Solutions, a Bangalore-based online gift company, and $60 Mn in BankBazaar, an online financial marketplace.
Last year Amazon had announced a $2 Bn investment in India.
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