The big daddy of acquisitions in India is planning to expand its bounty even further this fiscal year. After recently acquiring FreeCharge for a whopping 2400 crore, making it the largest acquisition to date in India, many believed that the e-commerce giant will go slowly for some time. But it seems that India’s e-commerce industry is just heating up for a fresh round of war.
Snapdeal aims to acquire 10 more companies this financial year, to take upon rivals, Flipkart and Amazon. Since its launch, it has already bought 8 companies giving it the top spot on the startup acquisition and merger leaderboard in India. These acquisitions have been fueled by $1 billion it raised from Alibaba this year.
According to the CEO and co-founder of Snapdeal, Kunal Bahl, “If tomorrow there is something that brings similar strategic value, would we be open to paying whatever price it is? Absolutely “. This clearly shows that the Ecommerce behemoth is in no mood to stay back. The track record of its acquisitions clearly shows that it typically targets buyout opportunities in the broader mobile and data analytics space.
Reports have clearly suggested that India’s E-commerce market will be driven mainly via mobile in the coming years, and most of the platforms are filling up their arsenal in order to capture the market share.
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