HomeShop18 acquires book retailer CoinjoosAugust 4th, 2011 - 2:15 pm ICT by IANS
New Delhi, Aug 4 (IANS) E-commerce portal Homeshop18.com has acquired online books retailer coinjoos.com to strengthen its position in books, music and movies segment.
Coinjoos.com is a niche player in the books, music and movies segment with a library of over 10 million books. This acquisition will help HopeShop18.com to focus on the book business and tap the market using the technology and resources of the former.
“We are delighted to announce this acquisition. Our vision is to be the largest e-commerce company in India and 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,” said Sundeep Malhotra, CEO, HomeShop18 in a statement.
“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. We are working towards launching a world-class online book store in the next few months,” he added.
Nitin Gupta, CEO of Coinjoos.com, feels the partnership will help the books business to reach new heights.
“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,” he said.
- Now order Alphonso mangoes through TV - May 03, 2011
- US online spending up - May 10, 2012
- SRK ties up with HomeShop18 for 'RA.One' - Oct 21, 2011
- U.S. online sales reach almost $50 billion in fourth quarter - Feb 07, 2012
- 'Stumpy' makers hope to sell entire stock of cuddly mascot (With Image) - Feb 21, 2011
- How Flipkart broke India's online shopping inertia - Dec 09, 2011
- Myntra aims to offer 1,000 brands online - Jun 07, 2012
- E-commerce sites cash in on leap year - Feb 28, 2012
- Specialised online stores hottest e-commerce start-ups: Survey - Jan 30, 2011
- Home shopping channels cash in on festive season - Oct 17, 2010
- Amazon sells over 4 mn Kindle devices in December - Dec 30, 2011
- Except tickets, Indians aren't shopping online (With Images) - Jul 05, 2011
- New website for audio books launched at World Book Fair - Feb 26, 2012
- Chinese making fortunes out of 'e-business' trend - Sep 25, 2010
- Concern over overworked online Chinese shopkeeper's death - Jul 27, 2012
Tags: 10 million, book business, book retailer, books music, commerce company, commerce portal, cutting edge technology, e commerce business, e commerce site, focus area, homeshop18, immense value, indian consumers, logistics capabilities, million books, New Delhi, niche player, nitin gupta, perfect fit, shopping experience