Pigeon Express in Talks to Buy Out Snapdeal Stake in GoJavas
Logistics firm Pigeon Express is in talks to buy out entire stake of Snapdeal in its subsidiary parcel delivery firm GoJavas.
"We are in discussion to buy out stake of Snapdeal in GoJavas," Pigeon Express MD Anand Rai said on sidelines of the launch of Aangadia mobile app for consignment booking by delivery personnel.
Pigeon Express acquired 51 per cent share in GoJavas in August 2016, in which Snapdeal holds 49 per cent stake. Snapdeal has stopped using services of GoJavas and is currently delivering shipments mainly through its own new logistics venture Vulcan Express.
Rai said that Pigeon acquired GoJavas after it was running in losses mainly due to reconciliation issues with e-commerce companies."There was no transparency in e-commerce deliveries. E-commerce wave in 2013 very ...