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Cross-border shipping, checkout, quick delivery: Shiprocket supercharges new biz

Livemint

Livemint · 9m ago

Cross-border shipping, checkout, quick delivery: Shiprocket supercharges new biz

Logistics aggregator Shiprocket plans to increase investments in its emerging businesses, specifically in the areas of cross-border shipping, checkout, and quick deliveries. These segments already account for a fifth of the company's total revenue, with the aim of driving further growth. Shiprocket, backed by Temasek, is valued at over $1 billion and is set to achieve its first full year of profitability on an adjusted EBITDA level. The company has raised $233 million from various investors and aggregates third-party logistics players to fulfill orders for businesses. Shiprocket aims to continue expanding through organic growth and potential acquisitions.

Related News

Zomato-backed Shiprocket posts 21% increase in FY24 operating revenue

Economic Times

Economic Times · 9m ago

Zomato-backed Shiprocket posts 21% increase in FY24 operating revenue

Shiprocket, an ecommerce enablement firm backed by Zomato, reported a 21% increase in operating revenue for fiscal 2024 at Rs 1,316 crore ($170 million). However, the company also experienced a widened net loss of Rs 595 crore ($76.7 million) for the fiscal year ended March 2024. Shiprocket aims to achieve full profitability by the end of FY25 and is focusing on core business growth, while also expanding into emerging segments such as cross-border shipping and checkout services. The company is currently in discussions to secure a $75 million funding round led by Tribe Capital.

Ecommerce enablement platform Shiprocket to mop up $26 million from a clutch of investors

Economic Times

Economic Times · 7m ago

Ecommerce enablement platform Shiprocket to mop up $26 million from a clutch of investors

Indian ecommerce enablement platform Shiprocket is set to raise INR 219 crore ($26m) from a group of investors including Koch Group, MUFG Bank, Tribe Capital, Susquehanna International Group, and Huddle Ventures. The funding will be at a valuation of $1.2bn, the same as Shiprocket's previous funding round in 2022. Despite doubling its revenue in the last two fiscal years, the company is raising capital at a flat valuation. Shiprocket offers services such as managing shipments for direct-to-consumer brands and online sellers, and has been expanding into cross-border shipping and checkout and fulfilment services.

Shiprocket to soon file confidential prospectus for Rs 2,000-2,500 crore IPO

Economic Times

Economic Times · 2m ago

Shiprocket to soon file confidential prospectus for Rs 2,000-2,500 crore IPO

Zomato-backed Shiprocket plans to file a confidential draft prospectus with Sebi for a Rs 2,000-2,500 crore IPO. The ecommerce logistics firm aims to raise Rs 1,000-1,200 crore in fresh capital. Shiprocket has grown 20-25% in FY25 despite a challenging ecommerce landscape, serving mostly tier-II and tier-III cities. It has expanded its focus to payments, cross-border shipping, and quick commerce while acquiring several companies. The IPO is being managed by Axis Capital, Kotak Mahindra, JM Financial, and Bank of America.

Shiprocket has big plans for offline ecommerce space

Economic Times

Economic Times · 1y ago

Shiprocket has big plans for offline ecommerce space

Zomato-backed ecommerce platform Shiprocket is expanding its services to enable ecommerce transactions for offline general trade. The company has launched a WhatsApp storefront bot and introduced a quick shipping service called Shiprocket Quick. Shiprocket has partnered with hyperlocal logistics platforms, including Ola and Porter, to offer their delivery fleets to customers. The new services aim to cater to the growing demand for quick deliveries and help offline merchants stay competitive in the digital age. Shiprocket is also targeting revenue from additional services such as marketing, sourcing, payments, and lending for online sellers.

Zomato, Temasek-Backed Shiprocket Pre-Files for IPO with Sebi

StartupTalky

StartupTalky · 2m ago

Zomato, Temasek-Backed Shiprocket Pre-Files for IPO with Sebi

Shiprocket, backed by Zomato and Temasek, has confidentially filed for an IPO with Sebi, aiming to raise INR 2,000-2,500 crore. Established in 2012, Shiprocket serves over 100,000 sellers in India and focuses on rapid commerce, cross-border shipping, and digital payments. Despite a net loss of INR 595 crore in FY24 due to acquisitions, it reported INR 1,316 crore in revenue, reflecting a 21% increase. The firm is collaborating with Swiggy Instamart and Zepto for stock management.

Zomato-backed unicorn Shiprocket dives into fintech arena

The Arc Web

The Arc Web · 1y ago

Zomato-backed unicorn Shiprocket dives into fintech arena

Shiprocket, a software platform catering to small online sellers, is expanding its services and discussing a new round of funding. These new services include international shipping and fintech-based solutions like faster checkout, working-capital loans, and insurance. Shiprocket, valued at $1.2 billion, is in talks with new investors, including sovereign funds, who could set the price for the round. Tribe Capital, the company's top backer, recently purchased $70 million worth of shares in a secondary deal, resulting in substantial unrealized returns. Shiprocket closed FY23 with operating revenues of $131 million and is actively backed by strategic investors like Zomato, PayPal, and Razorpay.

Zomato bids to acquire Shiprocket at Rs. 16000 Crores

Medial

Medial · 1y ago

Zomato bids to acquire Shiprocket at Rs. 16000 Crores

Zomato, the publicly traded food delivery company, has proposed to acquire Indian e-commerce shipping startup Shiprocket. The offer values Shiprocket at around $2 billion, according to sources. Shiprocket, last valued at approximately $1.2 billion, raised funds in August 2022. No final decision has been reached, and both companies declined to comment on the matter.

Shiprocket’s D2C marketplace Zop in pilot stage: CEO Saahil Goel

Economic Times

Economic Times · 11m ago

Shiprocket’s D2C marketplace Zop in pilot stage: CEO Saahil Goel

Shiprocket, the ecommerce enablement startup backed by Zomato, is piloting a new D2C marketplace called Zop. The platform aims to be a destination for consumers to discover unique Indian D2C brands and explore their stories and products. Shiprocket plans to provide ways for merchants to promote products through ads or sales commissions. The marketplace is set to be officially launched in the next 45 to 60 days. Shiprocket is entering the marketplace segment, competing with major players like Amazon, Flipkart, and Meesho. The company has also introduced other services like a WhatsApp storefront bot and quick shipping for small businesses.

Shiprocket’s revenue grows to Rs 1,316 Cr in FY24, cuts losses

Entrackr

Entrackr · 9m ago

Shiprocket’s revenue grows to Rs 1,316 Cr in FY24, cuts losses

Logistics and supply chain enabler Shiprocket has managed decent growth in the fiscal year ending March 2024. Its co-founder and chief executive officer Sahil Goel claimed that the company’s operating revenue grew 21% year-on-year and reached Rs 1,316 crore in the last fiscal year. For context, Shiprocket recorded Rs 1,088.7 crore in revenue from operations in FY23 while its losses were at Rs 333.81 crore (including Rs 63.16 crore worth of exceptional items booked for amortization of intangible assets and investment provisions) during the period. While the company is still far away from profitability, Goel claimed that Shiprocket reduced its cash EBITDA burn by 48%, bringing it down from Rs 191 crore in FY23 to Rs 100 crore in FY24. According to him, the reduction in losses was a key factor in the company achieving cash profitability in the first two-quarters of FY25. The improved EBITDA margin reflects Shiprocket’s efforts to optimize operational efficiency, reduce costs, and increase its profit margins according to Goel’s LinkedIn post. “Our Emerging Businesses are growing at a rate of ~75% Y-o-Y including Shiprocket Cross Border, Checkout, Capital, and other innovations that are leading the way as we rapidly scale new products and offerings for Indian SMBs,” said Goel. The integration of Pickrr’s Domestic Shipping also played a crucial role in strengthening Shiprocket's core platform. Founded by Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket provides logistics and supply chain solutions to retailers which lets them integrate their shopping websites across e-comm enablers such as Shopify, Magenta, and others. The company claims to empower over 1.5 lakh active businesses and enable 5% of India’s e-commerce through its platform. In December 2021, Shiprocket raised $185 million in a Series E round co-led by Zomato, Temasek, and Lightrock India. The firm turned unicorn in August 2022 following a $33 million tranche. In October last year, it also scooped up $11 million from McKinsey at a flat valuation.

UBS pegs $15.4 billion enterprise value to Zomato's Blinkit biz

Economic Times

Economic Times · 11m ago

UBS pegs $15.4 billion enterprise value to Zomato's Blinkit biz

According to UBS, Blinkit, a quick commerce platform valued at $15.4 billion, is contributing to Zomato's valuation more than its main food delivery business. UBS values Zomato at $32.1 billion, with quick commerce and food delivery both showing strong growth. Blinkit plans to expand its network of dark stores to 2,000 by 2026. UBS also noted increased competition in the quick commerce space, with new players such as Flipkart Minutes entering the market. UBS valued Zomato's food delivery business at $12.2 billion and its going-out business at $1.6 billion.

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