NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / Pigeon Express to acquire GoJavas
    Business

    Pigeon Express to acquire GoJavas

    Pigeon Express to acquire GoJavas
    Written by Ramya Patelkhana
    Edited by Gaurav Jeyaraman
    Aug 11, 2016, 01:29 pm 3 min read
    Pigeon Express to acquire GoJavas

    E-commerce and logistics firm GoJavas has been in talks with courier service provider Pigeon Express, over a possible acquisition deal. GoJavas entered talks with other companies after a possible deal with Snapdeal fell through. Apart from Pigeon Express, GoJavas is also in talks with Trackon Couriers, however, sources said that Pigeon Express has managed to swing the deal.

    About GoJavas

    GoJavas is a logistics firm founded in 2013 with an aim of becoming an industry leader. With the motto- 'Delivering a million smiles', it provides logistics and supply-chain solutions to over 450 business partners. Some of its prominent e-commerce partners are Jabong, Yepme, LensKart, HealthKart, Fabfurnish, etc. It is one of the fastest-growing logistics firms and covers more than 2,500 pin codes in India.

    GoJavas' competitors

    GoJavas' competes primarily with eKart (Flipkart's firm), SSN Logistics-owned Delhivery, Ecom Express, and DTDC Express' e-commerce arm Dotzot.

    GoJavas struck by Twitter controversy

    GoJavas was in the news in Jul'16, after a fake Twitter account holder spread a controversy that Jabong's Co-founder and former CEO Praveen Sinha gained personal profits from the company's business dealings. Jabong's primary investor Rocket Internet said GoJavas (formerly JaVAS) was transferred at zero value to Sinha-controlled Quickdel Logistics, which runs GoJavas now. Praveen Sinha still holds a significant stake in GoJavas.

    Snapdeal invested over Rs.237 crore in GoJavas

    Snapdeal, backed by Alibaba, reportedly invested over Rs.237 crore in GoJavas since Mar'15. On 2 Aug'16, the e-commerce giant announced the launch of six new logistics hubs owned by its wholly-owned Vulcan Express in Delhi-NCR, Kolkata, Hyderabad, and Lucknow. Snapdeal reportedly roped in former GoJavas CEO Vijay Ghadge to run Vulcan in Apr'16. After Ghadge's exit former ITC executive Amitabh Coomar became GoJavas' CEO.

    GoJavas suspends operations temporarily; cites technical issues

    Snapdeal-backed logistics firm GoJavas has, citing technical problems, temporarily suspended its operations. The company stated some changes are being made to its operational model in an attempt to be more flexible in providing additional services and extra reach. GoJavas said it was working to fix the temporary suspension due to IT issues soon. No further details have been revealed by the logistics firm.

    Resolving the issue

    GoJavas said, "We are working 24X7 to resolve this issue and will re-initiate load post thorough testing of our systems. All clients have been informed and are cooperating." Its operations have been suspended for the last 5-7 days.

    Snapdeal trying to acquire GoJavas

    Snapdeal, owned and operated by Jasper Infotech Private Limited, is reportedly looking to acquire a 100% stake in logistics firm GoJavas. Snapdeal already has a stake of over 42% in the logistics company, according to the Registrar of Companies. GoJavas has reportedly been trying to raise external funds, but so far the talks haven't progressed. Snapdeal did not comment on GoJavas' temporary suspension.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    India
    ITC Limited

    Latest

    Is it okay to be selfish? Sometimes, yes Mental Health
    2023 Kawasaki Ninja ZX-4RR goes official with 399cc inline-four engine Kawasaki
    Grammy 2023: Know who'll perform and when, where to watch Grammy Awards
    Realme's Coca-Cola smartphone will launch on February 10: Check specifications Coca-Cola

    India

    Centre aims to eliminate sickle cell anemia by 2047 Union Budget
    Chilliest since 2013: Delhi records coldest January in a decade Delhi
    Finance Minister Nirmala Sitharaman to present 2023 Economic Survey today Union Budget
    Amid global slowdown predictions, IMF calls India 'bright spot' International Monetary Fund

    ITC Limited

    Chennai: Luxury hotel turns COVID-19 hotspot; 85 test positive Tamil Nadu
    GST transactions worth over Rs. 1 lakh crore under scanner GST
    Dharampal Gulati, face and owner of MDH Spices, passes away Padma Bhushan
    Bingo releases statement after receiving criticism over ad Twitter

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023