Snapdeal.com, one of India’s largest online marketplace has acquired the assets of Shopo.in, a leading online marketplace for Indian designer and handcrafted products. Shopo’s investors included Sequoia Capital and Sashi Reddi,among other angels. In a short span of two years, the company, started by Theyagarajan S, has built a wide assortment of handcrafted products across categories such as apparel, accessories, home décor and others.
Speaking about this acquisition, Kunal Bahl, Co-Founder & CEO, Snapdeal.com said, “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.”
“Over the last two years, Shopo has built a unique marketplace for Indian products. The time has come to give the Shopo family a bigger platform. We are delighted to announce an acquisition by Snapdeal, India’s largest marketplace and are confident that Snapdeal will give our sellers a larger audience that would love the ethnic and Indian design products that we have,” said Theyagarajan S, Founder & CTO, Shopo.in.
