One of the leading e-commerce portals Snapdeal is all set to acquire the logistics firm GoJavas. The acquisition deal is estimated to be around Rs 150-200 crore and is an attempt of the company to strengthen its delivery operations in the country. As reorted by PTI, Snapdeal is expected to announce the acquisition of the former logistics arm of e-retailer Jabong in the next two weeks.
However, Snapdeal is mum on the entire acquisition episode. The spokesperson of the company stated that, these are speculation and as a policy, we do not comment on speculation. On the other hand, GoJavas also denied commenting about anything.
The logistics firm GoJavas works with various e-commerce firms such as are speculation and as a poliHealthKart, Jabong, Yepme and Lenskart, and is equipped to cover over 2,500 pincodes in the country.
Snapdeal has over 25 million registered users and more than 50,000 business sellers. Presently, it does not have a captive delivery arm and relies on third-party logistics. In October, last year Softbank Internet and Media and Snapdeal have entered into an agreement under which the Softbank group will invest $627 million in Snapdeal.