Shipping solutions aggregator Shiprocket revealed updated projections after its recent assimilation of Shiprocket 360 (earlier Kartrocket) and Shiprocket Social (earlier Kraftly) to Shiprocket.
Following the recent assimilation, the brand projects its active sellers to reach 50,000 by end of this fiscal and is targeting 3 million annual shipments by the end of 2020. The revenue of the company is of $20M ARR (July) (Annualized Revenue Run rate).
Saahil Goel, Co-founder, and CEO at Shiprocket, said, “The Company has decided to integrate all our three products under the Shiprocket platform to further strengthen our product offering in e-commerce logistics. Now, we can provide SMEs with a website, Facebook shop, and automated marketing solutions free of cost while also providing seamless integration with our logistics platform and Omni channel solutions. We have made it our core mission to enhance logistics performance, price, and consumer experience for direct-to-consumer sellers. We are confident that this integrated approach will generate superior market results and further augment the customer satisfaction onboard.”
The shipping aggregator has achieved one million shipments with annual GMV of over $220 million with over 1.5 lakh sellers (15,000 active sellers) on board. Currently, Shiprocket ships to around 220 countries and across 26,000 PIN codes in India with 15 courier partners onboard.
Speaking about Shiprocket 360, Akshay Ghulati, Chief Business Officer at Shiprocket said, “Shiprocket 360 is not a change, it’s a valuable addition. With it, sellers now have the ability to create bespoke experiences for their customers and plug into some of the most advanced technology for logistics, CRM, marketing and inventory management. Our goal is to provide a solution which ultimately leads to better conversions and engagement.”
Launched in 2016, Shiprocket has spearheaded several technological innovations including data analytics and Artificial Intelligence to the broader shipping process. This has enabled the platform to experience an annual growth rate of 300%. With recent assimilation, the brand is aiming to consolidate its market base and provide holistic services to all big and small stakeholders to further its market momentum.