E-commerce portal Homeshop18.com has acquired online books retailer coinjoos.com to strengthen its position in books, music and movies segment. Coinjoos.com is a niche player in the books, music and movies segment with a library of over 10 million books. This acquisition will help HopeShop18.com to focus on the book business and tap the market using the technology and resources of the former.
"We are delighted to announce this acquisition. Our vision is to be the largest e-commerce company in India and we are investing heavily in cutting edge technology, warehousing and logistics capabilities to provide a world-class online shopping experience to Indian consumers. Books are the key focus area for us," said Sundeep Malhotra, CEO, HomeShop18 in a statement.
"Books as a category is essential for an e-commerce business as it attracts a niche set of customers online and at the same time, helps boost repeat transactions. We are working towards launching a world-class online book store in the next few months," he added.
Nitin Gupta, CEO of Coinjoos.com, feels the partnership will help the books business to reach new heights.