Sees great opportunity in Indian sports goods market.
Snapdeal.com has announced the acquisition of Delhi-based eSportsbuy.com, a portal selling sports goods and fitness equipment.
eSportsbuy.com was started by Prateek Agarwal and Amit Monga, both graduates from Indian Institute of Technology, who worked with companies like Amazon and IBM. The company, started about a year ago, has built a wide range of quality sports products across hundreds of national and international brands.
Kunal Bahl, CEO of Snapdeal.com, said, “The Indian sports goods market is slated to become a $2.7 billion industry by 2014, and given that the offline market for this sector is highly fragmented, and unorganised to a large extent, it is a great opportunity for an e-commerce player like Snapdeal, to bridge the gap in demand and supply. The team at eSportsbuy has done a great job in building a strong supply side network of sports and fitness products. Through this acquisition, we will be able to provide this wide assortment at great prices to Snapdeal’s 15 million members.”