SapnaOnline acquires Bookadda @ Times of India
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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. Eclincherpowerful social media marketing app. 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.