Zomato in talks to acquire unicorn Shiprocket: Report

BENGALURU: Food delivery platform Zomato has made an offer to acquire e-commerce shipping platform Shiprocket for $2 billion, Bloomberg reported on Thursday. Though the contours of the deal are not clear, it would be one the biggest acquisitions in the Indian startup space this year if the deal goes through. Indian startups continue to grapple with a prolonged funding winter and fewer tuck-in acquisitions.
When TOI reached out to Zomato, its spokesperson said, “We don’t comment on market speculation.” Shiprocket said they do not have a comment to offer in response to TOI’s email.
Shiprocket, which counts Temasek and Lightrock as investors, raised $33.5 million last year, valuing the e-commerce platform at $1.2 billion. Zomato owns 8% in Shiprocket.

It provides a technology stack to help retailers integrate their shopping websites on Shopify, Magento, WooCommerce, Zoho, and others with the platform’s multi-carrier API (application programming interface) to manage orders, prints, and shipping labels.
Founded in 2017 by Saahil Goel, it provides tracking information from multiple providers including managing cash on delivery orders and payment reconciliation. Shiprocket has over 45 warehouses located across India. Its shipping solutions are available across 24,000 pincodes within India and 220 countries & territories.
Last year, Shiprocket bought Arvind Internet’s technology business – Omuni – for about $24 million in a stock and cash deal, marking its fifth acquisition. Prior to that, it acquired e-commerce SaaS firm Pickrr for $200 million.