Logistics platform Shiprocket acquires 75 per cent stake in Wigzo Tech
- ByTejika Bajaj | January 8, 2022
Logistics and fulfilment platform Shiprocket has recently pledged to acquire a 75 per cent stake in Consumer Data Platform (CDP) Wigzo Tech. This strategic investment would allow Shiprocket to diversify its product stack for onboarding online retailers over its platform and thereby facilitate a more personalised end-to-end consumer experience.
The two brands have similar goals and will thus be able to combine their synergies effectively to deliver a superior consumer experience by solving critical pain points that are faced by e-commerce retailers.
Commenting on the acquisition, Saahil Goel, Co-Founder, and CEO of Shiprocket said, “India’s D2C space is currently showcasing massive growth. Today, the country has over 10,000 D2C brands, with the sector projected to touch $100 billion by 2025. For D2C brands, leveraging data can play a pivotal role in having an edge above their contemporaries. Suffice to say, modern consumers are drawn to brands that take a carefully tailored approach to their buying experience. This is where Wigzo is proving a game-changer in assisting D2C brands.”
Shiprocket brings in expertise in leveraging delivery-behaviour data and enabling end-to-end logistics, whereas Wigzo Tech puts intelligence related to customer affinity and purchasing behaviour on the table.
Talking about the recent acquisition of a majority stake, the Co-founder and CEO of Wigzo Tech, Umair Mohammad said, “We are delighted to be associated with Shiprocket, which has proven its role as an ecommerce enabler consistently. As we went through the process of evaluating what our association could mean, we were definite that this would be a significantly beneficial partnership. We are looking forward to working in close affinity with them to build innovative, futuristic solutions that will kickstart the next phase of growth for the industry.”
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