Ecommerce marketplace Overcart has added a ‘Books and Media’ category on its portal, the first category outside of consumer electronics. Overcart mentions it has appointed Shish Rohil the co-founder of used books marketplace Madbooks, to help expand it into the non-electronics category.
The inventory of books will be sourced from excess stock from various retailers. At launch, the books are being sold at three price points, Rs 49, Rs 99 and Rs 149. The new category includes both pre owned and excess stock books in various genres. The collection includes books by Dan Brown, JK Rowling, Agatha Christie, John Grisham, Jeffrey Archer etc., and popular books like wuthering heights, the girl with the dragon tattoo, the kite runner etc.
The collection also includes various educational textbooks in Maths, History etc. and various non fiction books like Islamic History, General Knowledge 2015 and Current Affairs. It also features books written in Hindi like Chanakya Neeti, The Yog, Bihar Samanya Gyan 2015 etc. These listings should make book lovers happy as it is always interesting to find random books at a significantly lower price point.
Started in 2012 by Alex Souter and Saptarshi Nath, Overcart is an online marketplace which sells excess stock, unboxed, refurbished, and preowned products. It was earlier known as Bootstrapp. It currently focuses on the consumer electronics market in India and offers products like mobile phones, laptops, console games, electronic accessories and now, books.
The platform helps businesses and large ecommerce companies manage their customer returns and eliminate their unsold stock by offering these products at marked down prices (liquidation prices) to consumers and smaller retailers. The company claims this helps businesses to reduce their warehousing costs.
Lightbox-backed GreenDust.com also sells refurbished factory seconds with a 1-year warranty, across categories like mobile, electronics, kitchen & home appliances, and healthcare among others. There are other players like Hyderabad-based YNew and Kolkata-based Budli.in that also allow users to sell, buy or refurbish used gadgets. However, as of now, none of these platforms sell books.
Overcart funding: Overcart raised an undisclosed amount in Series A investment led by K Ganesh’s GrowthStory with follow-on investment from GSF Superangels network in June last year. This included IndiaMart founder & CEO Dinesh Agarwal, iXiGo founder & CEO Aloke Bajpai, GSF founder Rajesh Sawhney, GSF operating partner Rishab Malik and GSF’s Tara Bhargava. The platform had earlier received a seed funding of $25,000 from GSF, while being part of the accelerator’s first startup batch in October 2012.
Partnerships: In January this year, Xiaomi held a flash sale for unboxed and refurbished RedMi 1S smartphones on Overcart.com. The unboxed RedMi 1S smartphones were sold for Rs 4,999 and the refurbished ones were sold at Rs 4,599 on the site. As of now the website is selling unboxed Redmi Note 4G versions.
– In April this year, Junglee started selling unboxed, factory seconds, refurbished and surplus electronic products such as mobile phones & tablets, cameras, TVs, refrigerators, and washing machines and had added Overcart.com and GreenDust as sellers on its platform. Shoppers are able to search for products by categories or directly look for products on offer from Overcart and GreenDust.