Shiprocket Inks Agreement To Acquire Pickrr For $200 Mn The combined entity now will boast a top-of-the-line product offering that cuts across customer segments and democratises e-commerce
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Shiprocket, a major Indian tech-enabled shipping and fulfilment platform, has inked a deal to acquire a majority stake in Pickrr, an e-commerce SaaS platform for D2C brands and SME e-tailers. The deal value is estimated at $200 million, comprising cash, stock and earn-out.
The consolidation now also creates a single gateway for other enablers and suppliers to service the ever growing digital retailer community; it aims at strengthening its position as the leading D2C enablement operating system, said a statement.
The combined entity now will boast a top-of-the-line product offering that cuts across customer segments and democratises e-commerce, it added.
"We have a once-in-a-lifetime opportunity to define how retailers interact with logistics operators and consumers to create consumer delight. Shiprocket and Pickrr are uniquely positioned to capture this opportunity by laying the building blocks of this software infrastructure. We look forward to building a formidable e-commerce logistics ecosystem with our complementary products and customer segments," said Saahil Goal, co-founder and CEO, Shiprocket.
The two companies claim that together they will give every retailer in India a single platform to seamlessly manage their shipping, fulfilment, customer engagement, and overall back office operations seamlessly. More specifically, they aim to empower D2C brands and lakhs of SME e-tailers and social commerce retailers with a full-stack logistics and fulfilment platform, including same-day and next-day shipping, quick fulfilment, fast check-out, easy returns, and cross-border shipping, among many other features and services.
"As we analysed what the acquisition of Pickrr could mean, we were certain that it would be mutually beneficial, not just for the two platforms, but the entire e-commerce logistics space. Both Shiprocket and Pickrr are frontrunners in the industry, and we are keen to work closely with them to build futuristic solutions and transform the e-commerce logistics sector by driving it to its next growth phase," said Gaurav Mangla, co-founder, Pickrr.
Established in 2017, Shiprocket started its journey by building a DIY technology stack focusing on social sellers and SMEs. It now claims to be India's largest e-commerce shipping and enablement platform for SMBs. The technology powers shipping and fulfillment for SMEs, D2C retailers, and social commerce sellers in the country. With over 17 courier partners on board, the brand enables pan-India as well as international shipping deliveries. Its shipping solutions are available across over 29,000 pin codes within India and 220 countries across the world.
