India based Snapdeal.com has acquired another indian marketplace for Indian designers and handcrafted products, Shopo.in. As a part of the deal, Snapdeal will merge sellers on Shopo to Snapdeal and then shut Shop. Now Shopo’s product categories are redirecting to Snapdeal.
Shopo.in has added a big notice on the website saying, “Shopo is now part of Snapdeal.” It also added the logo of Snapdeal on the middle of the page. It was founded in 2011 by Krithika Nelson and Thyagarajan S. Few months back, Nelson had also stepped down as CEO. Shopo.in had raised seed funding in 2011 from Sequoia Capital, SRI Capital, Seeders, Sashi Reddi and few angel investors.
Shopi also announced the deal via a tweet.
We are delighted to announce that Shopo.in is now a part of Snapdeal, India’s largest Marketplace.
— Shopo (@shopoindia) May 31, 2013
Snapdeal.com co-founder and CEO Kunal Bahl said about this acquisition:
“The Indian designer and handicrafts market is large but highly fragmented and the demand for such products is tremendous. Snapdeal’s mission is to provide a platform for small businesses across India to be able to sell to consumers nationally.
The team at Shopo has built a very strong supply side for niche Indian handicraft and designer products.
With this acquisition, we will now provide these unique products at great prices to Snapdeal’s 20 million members, and warmly welcome Shopo’s sellers to leverage Snapdeal’s nationwide reach.”
