Snapdeal has picked 20 per cent stake for Rs 120 crore in GoJavas a logistics company. This is second such investment by Snapdeal after it picked a minority stake in Smartprix.
Reasons for Investment:
- To strengthen Snapdeal supply chain infrastructure
- GoJavas comes as a strategic enabler for its core e-commerce business
- Snapdeal to expand their delivery arm as GoJavas covers over 2,500 PIN codes in the country in terms of last mile delivery presence.
QuickDel Logistics Pvt Ltd runs logistics business under the brand GoJavas
It caters to around 100,000 consumers in 107 cities per day.
Online retailers Jabong, Fabfurnish, Healthkart, Yepme and Lenskart are its clients
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