Shopo acquired by Snapdeal- End of a niche Marketplace
Shopo the exclusive marketplace for handicrafts was recently acquired by the Marketplace biggie Snapdeal for an undisclosed amount.
Shopo, founded 2 years ago and backed by Sequa was a niche market place providing sellers of handicraft works an exclusive platform. Post integration the sellers have been moved in to the mainstream marketplace of Snapdeal.com.
The Head of Shopo, Theyagarajan.S believes this move will widen up the customer base for Shopo Sellers riding on the popularity of Snapdeal and issued the following statement – “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.”
Shopo announced the acquisition and posted a message on their homepage informing about the remuneration policy of the shopping points and is redirecting people to Snapdeal site.
Many Shopo sellers meanwhile seemed a disappointed lot. Kaagazi one of the leading sellers on Shopo platform clearly expressed this feeling through their twitter handle [@kaagazi](https://twitter.com/kaagazi/status/340525968764583937) as follows “@shopoindia you just made the worst decision ever tying up with Snapdeal #badstrategy #betrayal looking for new online partners now”
The feeling was mirrored by other as well: @geetanjalic tweets: So disappointed to hear about @shopoindia. @sbaghla tweets: SnapDeal + Shopo = Why ?
The past months have seen quite a few acquisitions in the Indian eCommerce arena. The big news makers being Inkfruit buyout by Zovi, esportsbuy again acquired by Snapdeal and the famous being Flipkart acquiring letsbuy.com
Though the industry watchers call this consolidation of eCommerce industry in India, ending of such a wonderful niche platform is indeed a loss. Do share your thoughts on this with us