Unicommerce | Pixr8 News

31Dec By Gauri SinghNo Comments

ACQUISITION

Infibeam Cancels Snapdeal’s Unicommerce Acquisition

eInfibeam Avenues had announced that its up to Rs 120 crore-deal to acquire Unicommerce, a subsidiary of e-commerce platform Snapdeal, however, the deal has been terminated. "...we wish to inform you that the SPA has been terminated as the conditions precedent were not fulfilled within the stipulated time period," Infibeam said in a regulatory filing. In May, Infibeam Avenues had announced signing a definitive share purchase agreement (SPA) with Unicommerce eSolutions and Jasper lnfotech (which runs Snapdeal) to acquire 100% stake in Unicommerce. It had sated that the acquisition would boost its e-commerce enablement capabilities and expand the product offerings for existing clients. The transaction was scheduled to close in three-five...

Infibeam Sets a Record Registering 40,000 Domains in a Day

21Jun By Lavina TolaniNo Comments

News

Infibeam Sets a Record Registering 40,000 Domains in a Day

Infibeam, India's first listed e-commerce company has created a benchmark record of registering over 40,000 domain names in a single day. According to the official statement, the company which runs a unique business model with a mix of Infibeam shopping destination and Infibeam Web Services and country’s first generic top-level domain (GTLD) Registry .OOO have created a record of registering over 40,000 domain names in a single day, as per an official statement. With over 1.15 lakh total registrations, company has secured top position in new GTLD club within India and in top 50 new GTLD club globally. Infibeam’s .OOO is one of the first generic top-level domain (GTLD) Registry operational in India after bagging necessary clearances and license from The Internet Corporation for Ass...

Infibeam to Acquire Snapdeal’s Unicommerce for Rs 120 Crore

7May By Sheldan RungasamyNo Comments

ACQUISITION

Infibeam to Acquire Snapdeal’s Unicommerce for Rs 120 Crore

Infibeam Incorporation Ltd, parent company of the country’s only listed e-commerce will acquire 100% stakes in the tech solutions company of Snapdeal, Unicommerce. Infibeam released a statement stipulating that in reached an agreement with Snapdeal’s parent company, Jasper Infotech Pvt. Ltd to acquire Unicommerce for the sum of Rs 120 crore. Snapdeal reported a 75% jump in loss for the financial year ended March 2017 and are now selling Unicommerce for 55% less than they acquired it in 2015 for $40 million. Founded by IIT Delhi alumni Ankit Pruthi, Karun Signla and Vibhu Garg in 2012, Unicommerce licensed a product called Uniware that is a software-as-a-service (SaaS) application for end-to-end management of order fulfillment. The application specializes in managing vendors, procurem...

28Oct By RishabhNo Comments

News

Days After Snapdeal CFO’s Exit, CTO Rajiv Mangla Resigns

Merely two weeks after Snapdeal CFO Anup Vikal's exit, its Chief Technical Officer Rajiv Mangla quits the online retailer, a company spokesperson confirmed on Saturday. Rajiv Mangla is said to have resigned from his post on Friday, October 27; and will be transiting out of his role by 15 December. “Rajiv has played a key role in devising and implementing multiple technology initiatives at Snapdeal, including helping build Snapdeal Cirrus. His ability to continually align a range of ongoing projects with the evolving business needs of the organisation has been invaluable for Snapdeal,” said Rohit Bansal, co-founder of the homegrown e-commerce venture said. The development was first reported by Business Standard. Snapdeal has recently witnessed a string of top-level executives soon ...