E-commerce firm HomeShop18 today said it had acquired online books retailer CoinJoos.Com for an undisclosed amount.
"This is the first acquisition by the company and is aimed towards strengthening books business and tap the massive market accessing the technology and resources of CoinJoos.Com," Homeshop18.Com Vice President E-commerce Narasimha Jayakumar told PTI.
Based in Noida, CoinJoos.Com was run by a team of 20 people. The portal is developed by enterprise software development startup, On-Graph Technologies.
HomeShop18 is working towards launching an online book store in the next few months.
"CoinJoos.Com will become a part of Homeshop18.Com and we are working towards launching a big online book store in the next few months," Jayakumar said.
Commenting on the company's growth plans he said, "We are targeting exponential organic growth with focus on categories such as fashion and apparel, books, electronics and other digital products."
He, however, did not disclose the deal size and revenue figures of both the firms.
While the Network18 Group company has a monthly reach of over 1.4 million visitors, CoinJoos has a catalogue of over 10 million books.