The terms of the acquisition were not disclosed, although the report says it was an all-stock transaction. HopScotch co-founder told the publication that this acquisition will allow them to expand its customer base and also provide them with a larger vendor base.
At the time of writing this article, we noticed that SkoolShop has already shut its own site and has started redirecting its customers to Hopscotch site. It’s not clear whether Skoolshop team has joined Hopscotch or not. Update: Hopscotch has informed Medianama that SkoolShop co-founder Anusha Mahalingam is joining the company along with a few employees. SkoolShop’s other co-founder Satya Raghavan will be not joining Hopscotch.
Yet another victim of e-commerce consolidation?
SkoolShop was probably yet another victim of the ongoing e-commerce consolidation in the country. Note that SkoolShop’s competitor AllSchoolStuff had also shut down last month while BookAdda had acquired KoolSkool in March this year to integrate its offering to the portal.
SkoolShop had previously raised undisclosed amount of Series A funding from Blume Ventures & angel investors like Sunil Kalra, Srikant Shastri, Vikas Choudhary and Puneet Deora in March last year. It had also secured angel funding from Getit Infomedia CEO Jaspreet Bindra and Google India MD Rajan Anandan. All the investors have exited the company following this deal.
Founded in 2011 by Satya Raghavan and Anusha Mahalingam, SkoolShop offered education & school related products. This includes course books, school bags, digital educational content, school apparels and art supply among others. It offered products from brands like Cartoon Network, Fastrack, HCL MyEdu Tab.
Besides this, it also supplies text books, stationery and other educational supplies directly to schools. Hopscotch COO Arti Gupta however told the publication that they are currently deciding on whether to continue this part of the business or not.
Hopscotch was launched in October 2012 by former Diapers.com executives Rahul Anand & Lisa Kennedy and offers products like baby and kids apparel, shoes, toys & books, school products, moms & maternity products and accessories in a flash sales model.
It had raised $2 million investment from the Singapore-based LionRock Capital, Adi Godrej’s younger daughter Nisa Godrej, Skype co-founder Toivo Annus and Diapers co-founder & CTO Wei Yan in February this year.
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