It’s rightly said that you make money in business only by two things. One; the service or product that you offer and the other by spin-offs, split-ups, liquidations, mergers and acquisitions.The very big player in the e-commerce Amazon is ready to acquire the Bengaluru based start-up Perpule. The news was in the market on Wednesday. Let’s get into details.
MORE ABOUT PERPULE
The company is in simple words an enterprise e-commerce platform that helps companies to bridge gap between their online & offline footfall.
The company was founded in the year 2016 with a promise to make the mobile app economy transparent. They have a great footfall in the mobile app insights into the different sectors like grocery, F&B, Apparel & more. The market brands that are enriched through the service are:
- Big Bazaar
- New U
- Wellness Forever
- Zapp Fresh
- The Man Comapny
The company received its first external funding in the inception year and since then there is no looking back. The major reasons why people should chose the company:
- Fast mobile commerce experiences
- Multistore capabilities
- ERP integrations
- Offline & online sync
- Analytical dashboards
Lat year the company made its entry into Southeast Asian markets having major investors like Prime Venture Partners, Kalaari Capital and Raghunandan G.
More than 100 stores in India
Multiple cafeterias like IT giant, Infosys
Multiple tools to sell, manage & grow retailers
The company is an American multinational company headquartered at Seattle. It was set up way back in 1994 by Jeff Bezos. It acquires the position in the Big Five companies in the technology industry.
The company started to provide online books; but it now provides everything that can be named from A to Z. It has surpassed the most valuable retailer in the market which is Walmart in terms of capitalization.
It is world’s largest AI marketplace; its online streaming platform has 100 million users worldwide. It is by far the largest internet company by revenue in the world.
DETAILS ABOUT ACQUISITION
The group has acquired the startup for an amount of $14.7 million. The deal was in all cash form. An additional $ 5 million will be given to the employees in order to compensate the situation.
Amazon’s take was very clear stating that the point of sale offering of Perpule is very innovative that helps the country’s businesses to enter into the online domain. It is an important step in making the overall experience more efficient and convenient.
The spokesperson further added that “We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers.”
The actual reason behind this acquisition was also that the major product of the company was not getting enough response from the population. The best way to continue further was to get yourself acquired and still serve the customers.
The question is Why did Amazon chose Perpule??
The truth is that Amazon has made a lot of investment in the physical stores in the country so that they are able to establish a network across the major marketplace. The company is currently targeting to get into the physical space as delivery stands at point in this case.