Javascript on your browser is not enabled.

Advertisement

Savings Discovery App Scandid Acqui-hires Local Ecommerce Platform Snabar

Founded by Sushil Choudhari and Bhaskar Thakur in 2013, Scandid is a digital shopping assistant that helps customers save money by comparing prices, discovering products across online and local retailers. Although based out of Pune, Scandid was incorporated in Silicon Valley.

Pune-based mobile-first savings discovery platform Scandid has acquired Snabar.

Snabar is a hyper-local e-commerce product that bridges the gap between online and offline shopping by seamlessly connecting the buyer and local seller intuitively for a vast array of products ranging from electronics, home and furniture products to accessories, children’s products and apparel for men and women.

Snabar also informs customers of discounts available in their locality so they can make purchases from shops with the greatest discount in a time and cost-efficient manner. Once a customer enters a product in the Snabar search box, the app showcases a list of shops, locations and prices, and the customer can decide whether they want to visit the store or opt for home delivery within a five-hour turnaround time. If a user opts to make an in-store purchase, once they upload their bill they receive cashback.

“We are excited to welcome Snabar into Scandid,” said Sushil Choudhari, co-founder of Scandid. “There are a lot of exciting synergies between the two teams on the product and vision for shopping assistance. The acquisition will help Scandid expedite our milestones and metrics.”

“We believe that the combined partnership along with our operational experience in wider areas will give more firepower to Scandid,” said Onkar Bhagwat, CEO of Snabar, who will be joining Scandid as a Product Manager. Onkar will be overseeing development of a seamless user experience on Scandid. On the other hand, Akash Shinde, CTO of Snabar, will be taking his decision soon about joining Scandid.

Founded by Sushil Choudhari and Bhaskar Thakur in 2013, Scandid is a digital shopping assistant that helps customers save money by comparing prices, discovering products across online and local retailers. Although based out of Pune, Scandid was incorporated in Silicon Valley.

The Scandid app, available on Android, iOS and the Web, allows customers to compare prices of over 30 million products from a vast network of over 200 retailers, including online biggies such as Flipkart, Amazon, Snapdeal, Shopclues as well as local neighborhood shops. In the past 12 months, Scandid has helped customers save more than INR 6 crores on online shopping, through additional features such as barcode scanners and location-based promo plug-ins.

Scandid recently secured its Pre-Series A funding from a variety of sources including Mohandas Pai and Micromax. Prior to this, Scandid had also raised funding from Silicon Valley-based investors in 2015.

With the acquisition of Snabar, looks like Scandid is on the lookout for talent and technology to continue to build a user-friendly shopping and savings assistant platform. Scandid shares a lot of synergy with Snabar, as both platforms bridge the gap between online and offline shopping through high-end technology, hence the strategic acquisition.

With over 7 million installs and more than 3.6 million registered users across India, Scandid sure is showing a lot of traction among online buyers in the nation, and it will be interesting to see how its growth increases in the months to come with the acquisition of Snabar.

Scandid has been gaining users at a steady pace through word-of-mouth and referrals from happy customers, and they aim to double their user base and engagement with the recently secured funding within the next six months – the acquisition of Snabar is one of the first series of major announcements the company has made since securing funding.



Around The World

Advertisement