Shiprocket, a product of Bigfoot Retail Solution Pvt. Ltd., is India’s best logistics software, which offers you automated shipping solution. The company has agreed to buy majority stake in Pickrr which is also a Logistic Courier company.
The deal value is estimated at $200 million (about Rs. 1,560 crore), comprising cash, stock, and earn-out. While Shiprocket has acquired around 80% in Pickrr already, the deal is for a 100% stake purchase which will be completed in the next coming months.
Saahil Goel, co-founder and CEO of Shiprocket gave a statement, “We are excited to have Pickrr as part of the Shiprocket family, combining the two largest platforms enabling direct commerce. Together, we will define the future of e-commerce enablement in India, creating the most comprehensive enablement software stack that every retailer can use to drive success in their digital journeys.”
For a bigger and better tomorrow, we are all set to serve bigger direct commerce brands along with SMEs. This deal will help us strengthen our position with a motive to improve overall customer experience.
— Shiprocket (@ShiprocketIndia) June 15, 2022
“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,” Gaurav Mangla, co-founder of Pickrr, said.
Since Shiprocket has agreed to buy majority stake in Pickrr, the deal will help Shiprocket emerge as India’s largest and fastest-growing ecommerce enablement platform. The combined platform will comprise shipping partners, shopping carts, warehouse providers, ERP systems, marketplaces, identity and credit information providers, payment players, and many more.
It will make them accessible to the D2C brands through the hundreds of integrations it has with these players. The two platforms process 10 million shipments per month with a customer base of over 75,000 merchants. It includes direct-to-consumer (D2C) brands, SME e-tailers, and social commerce sellers.