E-commerce company Snapdeal has acquired a minority stake in logistics company GoJavas for $19.1m, valuing it at more than $95m.
India-based e-commerce company Snapdeal has invested Rs 1.2bn ($19.1m) in India-based logistics company GoJavas in return for a 20% stake, Live Mint reported today.
Despite reports earlier this week that Snapdeal was looking to buy GoJavas for Rs 2bn, it has denied it has any plans to fully acquire GoJavas in the future.
The deal is part of Snapdeal’s strategy to establish a long-term partner for last-mile delivery, and comes amid news that it expects to invest around $200m in…
