e-news from Sapna-Group
SapnaOnline acquired Ishita Technology
Happy to officially announce that SapnaOnline.com has acquired Ishita Technologies and it's 3 online brands namely, Bookadda.com , Acadzone.com and Koolskool.com in a 100% cash buy out business acquisition deal which took place on the 3rd December 2014. It's a proud moment for us as we now cater : • 12.5 Million Book titles to a dedicated 5 Million users through Bookadda.com • Digital and E-Learning Education Content to more than 3.5 crore Students in India through Acadzone.com • Direct School Supplies to more than 10,000 schools across the country through Koolskool.com Ishita Technologies backed by Marque Investors like Zodius Capital, Mohandas Pai's Aarin Capital Partners and Serial Entrepreneur K.Ganesh have remarkable promoters in Hemanth Kohli, Arjun Kumar Mendu and Mahipal Dhoma. We are excited to combine Ishita Technologies' high performance and robust technology with SapnaOnline's operational capabilities to provide the best user experience to the end user. While Bookadda is live, Acadzone and Koolskool will officially have a re-launch in the month of February 2015 after the internal architectural structure between Bookadda, Acadzone and Koolskool is integrated within SapnaOnline. We would like to thank you all for believing in SapnaOnline.com and supporting us in some way or the other thus far. We assure you we will continue to strive harder in all possible ways. "This move consolidates SapnaOnline's position as the largest player in the book and education space online in the country"
SapnaOnline buys Ishita Technologies @ The Hindu
SapnaOnline.com, the online arm of city-headquartered Sapna Book House, on Wednesday, said it acquired Ishita Technologies and its three brands - Bookadda.com, Acadzone.com and Koolskool.com - in an all cash deal. However, the size of the transaction was not disclosed by the company. Ishita Technologies was co-founded by serial entrepreneur Hemant Kohli, and has raised Series A funding from Zodius and Aarin Capital. Going forward, the three brands will be operational in the same name. SapnaOnline, founded in 2012, has revenue of around $1.5 million, and has a strong presence in the southern market. “We have a strong presence in the southern market, and want to increase our presence in the northern region. With the acquisition, we will be able to cater to the growing book demand in the northern region,” said Sapna Infoway founder and CEO Nijesh Shah.Ishita was valued at $13 million at the time of Series A funding round in 2012. As part of the deal, two warehouses in Delhi and Bengaluru, operated by Ishita, will become part of Sapna. At present, SapnaOnline operates around 11 warehouses in the South. Acadzone provides digital test-preparation materials. Koolskool uses multi-channel retailing, and sells books to schools and institutions.
SapnaOnline acquires Bookadda @ Times of India
BENGALURU: SapnaOnline, the e-commerce arm of multi-brand retail book store Sapna Book House, has acquired 100% shares of Ishita Technologies which owns and operates three online commerce entities — Bookadda, Acadzone and Koolskool. The deal, valued at over $13 million, will give the two-year SapnaOnline a greater push in the online education space and will almost triple its current sales of $1.3 million. Bookadda has 2 million active online customer with revenues of close to Rs 13 crore. The book e-tailer, which has a retail catalogue of 12.5 million book titles, has a strong presence in the north and eastern markets of the country and will now give Bengaluru-based SapnaOnline a pan-India delivery presence. Over 50% of Bookadda's catalog consists of trade books (fiction and non-fiction titles), while currently SapnaOnline has a larger share of educational and regional language books. "This move consolidates our position as the largest vertical player in the book and education space online, in the country," said Nijesh Shah, founder and CEO Sapna Infoway, the digital arm of the family-run Sapna Book House. The other two e-commerce platforms of Ishita Technologies are focused solely on the education sector, which is now gaining momentum in the internet commerce space. Industry estimates peg the Indian education sector to have an addressable market of 4 crore students annually. While Acadzone is focused on the delivery of digital content for higher education, Koolskool is a direct supplier of education books to around ten schools. Shah said Koolskool's business will be scaled using SapnaOnline's existing client network of 10, 800 schools. There are also plans to expand Koolskool's product offerings to include customized school kits to parents directly.