MUMBAI: e-commerce company HomeShop18.com has acquired online books retailer CoinJoos.com.
The acquisition is expected to help HomeShop18.com strengthen its books business and tap the books market accessing the technology and resources of CoinJoos.com in the next few months.
HomeShop18 is working towards launching an online book store in the next few months, the company said.
HomeShop18 CEO Sundeep Malhotra says, "We are delighted to announce this acquisition. Our vision is to be the largest e-commerce company in Indiaand we are investing heavily in cutting edge technology, warehousing and logistics capabilities to provide a world-class online shopping experience to Indian consumers. Books are the key focus area for us."
Books as a category is essential for an e-commerce business as it attracts a niche set of customers online and at the same time, helps boost repeat transactions. With distribution setup and industry partnerships, the e-commerce site is now focusing on the books business.
Coinjoos.com CEO Nitin Gupta adds "Over last 2 years, CoinJoos technology and processes were designed keeping in mind a single goal - to delight customers. We are very excited that CoinJoos is finding the perfect fit with India‘s top e-commerce site, where we would be able to scale the books business to new heights and provide immense value to Indian consumers."
