Shiprocket has agreed a deal with Pickrr, it’s direct rival and plans to grow about 40% after this acquisition
Shiprocket is already providing India’s best logistics software and helps customers deliver their products from one place to another in a guaranteed time. On Wednesday, it announced the takeover of Pickrr, a direct rival which is a SaaS platform for around $200 million in cash, stock and earn-out. A method of distributing applications via the Internet as a service is known as software as a service (or SaaS). You can avoid complicated software and hardware maintenance by just accessing software over the Internet rather than installing and maintaining it. According to Shiprocket’s founder and chief executive, Saahil Goel said that this acquisition of Pickrr is complementary to the operations at Shiprocket and will help them grow even more as a company and can effectively help their customers and clients.
By combining all of a customer’s business needs into one platform, Pickrr has simplified their customer experience and helped them scale their business.
Shiprocket, which was started in 2017 has assisted more than 70000 online sellers since then and helps small businesses sell their products within the country as well as other countries. Among D2C companies and small and medium-sized businesses, Shiprocket has carved out a niche. Shiprocket is delivering shipments to over 200 countries and has now catered to more than one lakh customers already in a short span of time. The best features of delivering through Shiprocket are reduced shipping costs and the increased reach that it provides. It provides lower return costs as compared to fast forward charges and offers maximum insurance coverage due to lost or damaged shipment. ShipRocket is the best platform for any business whether it is a big or a small company or whether the order is big or small, the order will be delivered according to the preference of the customer/seller. The business raised $185 million in 2021 from sources like Temasek and Zomato. This year, Shiprocket has been on an acquisition binge, purchasing the majority interests in Wigzo, Rocketbox, Glaucus Supply Chain, and SaaS-based Logibricks.
This is Saahil Goel, founder and chief executive of Shiprocket
This acquisition by Shiprocket logistics was an excellent opportunity and they grabbed it with both hands.Online sales by small and medium-sized companies are prioritised as a growth area for their companies, according to a UPS study. According to a poll conducted by one of the biggest logistics organisations in the world, these enterprises were interested in increasing their e-commerce exports. Therefore, it was necessary to show that with the help of shiprocket, small and medium businesses especially can grow at a much cheaper cost which they might have to pay if they planned in starting out their own exports or e-commerce exports. If provided effective service it will also help in brand loyalty and sustainability for a number of years to come.