Exclusive: SoftBank invests in Snapdeal-owned Unicommerce
Summary
SoftBank has picked up a significant minority stake in Snapdeal-owned Unicommerce, said two people aware of the details of the transaction. “The terms of the deal were sealed two weeks ago and are likely to be announced soon.” Unicommerce provides e-commerce enablement software for multichannel selling, inventory and warehouse management. SoftBank’s investment in Unicommerce comes at a time when it has doubled down on its global SaaS portfolio through Mindtickle, Whatfix, Sendcloud and SenseHQ. SoftBank’s investment is significant for Snapdeal given the Gurugram-based company is expected to file a draft red herring prospectus (DRHP) for an initial public offering (IPO) to raise about $250 million in a few weeks from now. With e-commerce and omnichannel becoming an integral part of contemporary retail operations, the demand for Unicommerce’s solutions is likely to grow at a fast clip.
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