Shopclues acquired by Singapore based Qoo10

Three years after achieving unicorn status, online marketplace Shopclues that has been struggling to survive in the competitive e-commerce space in India, has merged with Singapore headquartered e-commerce platform Qoo10 Pte Ltd, in an all-stock deal.

ShopClues has received a very small cash infusion from (Singapore-based) Qoo10 Pte Ltd along with the full stock merger deal, to keep the company (ShopClues) afloat. Qoo10 has a strong presence in the Southeast Asia market, and their acquisition of ShopClues in India also in line with its proposed IPO plans, as it looks to grow its market base, as well as the seller base.

Founded in 2011, the Gurugram-headquartered ShopClues joined the billion-dollar club in January 2016, when it raised a round of funding led by sovereign wealth fund GIC Pte Ltd, along with participation from existing investors Tiger Global and Nexus Venture Partners.

In May this year, Snapdeal is believed to have carried out due diligence for a potential acquisition of ShopClues. However, the deal did not go through. Two months later, ShopClues reportedly laid off around 150-200 employees, across various departments.

SmartQ acquires Goodbox’s cafeteria business

Bengaluru based SmartQ, which provides digital solutions for food courts and cafeterias, has acquired Nexus Venture partners backed Goodbox’s cafeteria business for an undisclosed amount.

SmartQ is operated by YourNest Angel Fund-backed Bottle Lab Technologies Pvt. Ltd. Goodbox provides online shopping platforms to each Bengaluru neighborhood store registered with its app. It also provides food-ordering services in the city. In 2015, Goodbox had raised $2.5 million (Rs 16.5 crore) from Nexus Venture Partners.

The acquisition of cafeteria business comes two months after Goodbox, an app that offered mini apps to a wide range of small and medium-sized businesses within its own app, reportedly turned its focus to neighborhood stores for hyperlocal delivery even as it exited its “non-core businesses.

Goodbox allows businesses to create a storefront on its app, similar to a real-world store. In other words, businesses can create an app for themselves on Goodbox’s platform, where customers can directly interact with the store and conduct transactions. Users also get loyalty and reward points for using the platform.

Zomato acquires delivery startup Runnr

Food technology startup Zomato Media Pvt. Ltd has acquired delivery start-up Runnr as part of a widely expected, all stock deal that would help the former significantly shore up its food delivery business, amid intense competition from rapidly growing rivals such as Swiggy.

The deal also hands out a lifeline to Runnr which has struggled to raise funds in the recent past. It has raised about $20-25 million since it started out in 2015 from investors such as Nexus Venture Partners, Blume Ventures and Sequoia Capital. Runnr was a product of a merger between hyperlocal delivery start-up Roadrunnr and food-ordering start-up TinyOwl.

Goyal said Runnr was already fulfilling about 300,000 orders a month. He added that Runnr founder Mohit Kumar will remain chief executive and will continue to work on the strategic vision for the start-up with the rest of his team. He said the acquired firm will continue to be run independently by Kumar.

Prior to its buyout of Runnr, Zomato used to aggregate restaurants on its platform and works with third-party delivery partners such as Runnr and Grab to execute deliveries. In September 2015, Zomato had picked up a minority stake in Grab (Grab a Grub Services Pvt. Ltd) to bolster its food delivery business.

Practo acquires Genii

Online doctor discovery platform Practo Technologies Pvt. Ltd. has acquired Mumbai based product outsourcing firm Genii to strengthen its technology infrastructure. The acquisition comes amid Practo gearing up to enter the enterprise segment, with the launch of new products for hospitals and diagnostic centres.

Genii, founded in 2011 had raised $100,000 from angel investors. Practo will look for multiple acquisitions in the next 12 months to accelerate growth. It will look at acquisitions for innovative products and technology, talent and increasing customer base. At present, Practo generates revenue from Practo ray, a doctor facing practice management software sold as subscription based software as a service product.

The company does not charge doctors and patients for listing and booking appointments on its consumer facing platform Practo.com but hosts advertisements from hospitals and clinics on the website. Founded in 2008, Practo has so far raised $34 Million from Sequoia Capital, Matrix Partners and InnoVen Capital. Genii, is the second company acquired by Practo. In April, the company had acquired FitHo, a web and app-based fitness management platform, to enter the preventive healthcare segment.

Practo plans to expand to 10 countries across South East Asia, West Asia, Latin America and Eastern Europe by the end of the year. The firm claims to have on board about 5000 doctors in Singapore and about 11,000 doctors in Philippines. Other prominent firms in this segment are Lybrate, Ziffi, Qikwell, and Helping Doc. Lybrate Inc. announced that the company has raised $10 Million from Tiger Global and Nexus Venture Partners.

Snapdeal ties up with Mapmygenome

The cutthroat competition in the Indian e-commerce market has seen many websites try to outdo each other by offering unique services. Snapdeal seems to be super aggressive as far as expansion is concerned. After cracking partnership with Tata Value Homes, the Delhi based company has tied up with Mapmygenome India to offer DNA testing services.

Founded in 2012, Mapmygenome India is a company that offers a range of services to paint a picture of one’s genetic makeup and suggest ways to lead a better and healthier life. The services offered on Snapdeal include Cardiomap, Genomepatri, Mycalmbeat, and Webneuro. With this service, customers will be able to order personal genomic tests, which will help them identify the ideal lifestyle to lead a healthy and fit life. Mapping the genome aids in predicting, preventing, and treating a number of diseases. Mapmygenome offers tests in between Rs 1,000 to 25,000.

Cardiomap evaluates if you are at risk to heart diseases or diabetes based on your genetics. The service costs Rs 12,000 on Snapdeal. Genomepatri is the most expensive of the lot, priced at Rs 25,000. It essentially studies one’s DNA and suggests ways to change one’s lifestyle to lead a healthier life. Mycalmbeat, priced at Rs 5,000 is described as a personal stress reduction monitor that decreases stress and increases focus on personalized slow breathing. Webneuro, priced at Rs 1,500 is a web based 30 minute test that assesses the cognitive strength and weaknesses of individual. The collaboration will help both companies in reaching out to out 25 Million+ members across the country and enable them to understand the gene-disease interaction better.

Snapdeal has also announced its entry into the hospitality segment with 50,000 products across brands like cookware and bakeware, dining and serving and bar & glassware among others. Last month, Snapdeal raised an undisclosed amount of funding from Ratan Tata. Earlier this year, it had raised $133 Million led by eBay along with Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital, and Saama Capital.