After selling off its payments and logistics arm, Snapdeal parent Jasper Infotech is reportedly in talks to sell off its warehouse management arm ‘Unicommerce eSolutions’, reports Economic Times.
Jasper is in talks with several companies including Amazon and Nasdaq-listed Intuit, which is a business software provider. Acquired in 2015 in a cash and stock deal for about $40 million, Jasper is now looking to sell it at an enterprise valuation of about Rs 150 crore-200 crore. ET reports that the talks however, are still at a very early stage.
The last leg in selling off non-core assets, the sale of this SaaS-based ecommerce warehouse management company will help bring in the much-needed cash for the parent to grow Snapdeal 2.0.
Unicommerce was founded in 2012 by Ankit Pruthi, Karun Singla and Vibhu Garg and was bought by Jasper in 2015. As per the report, the company claims to process nearly 100 million orders every year with over 10,000 sellers. It not only has large ecommerce players such as Amazon, Jabong, Flipkart and eBay on board as clients, it also works with large offline brands and retailers such as Raymond, Ritu Kumar and Puma.
ET reports that Unicommerce makes strategic sense for Intuit, as it is a company that provides SaaS solutions to several small and medium business, not only in India but across the world.
For Amazon, the deal could be beneficial, especially with Unicommerce’s multichannel platform for warehouse management, which will help the ecommerce major gain an edge over its rival Flipkart in India.
Amazon has been aggressively fighting with rival Flipkart to grab the top position in India’s highly competitive ecommerce market. In fact, Amazon’s local unit hardly two months after Amazon India received the single largest infusion of funds of Rs 2900 crore from the parent company.
The talks of sale of Unicommerce comes days after Snapdeal sold its logistics arm Vulcan Express to Kishore Biyani’s Future Group for Rs 35 crore. Ever since Snapdeal’s sale to Flipkart – orchestrated by investor SoftBank -- didn’t go through, the ecommerce player has been selling off its non-core assets to continue as a standalone ecommerce marketplace under its Snapdeal 2.0 strategy. It also sold off its payments arm FreeCharge to Axis Bank for 385 crore.