 "e-marketplace Zopper eyes $200-mn GMV by March, to hire 130 people")
Hyperlocal e-marketplace Zopper aims to double its gross merchandise value (GMV) run rate to $200 million by the end of the fiscal, buoyed by strong growth in electronic item sales.
In line with the growth, the Noida-based firm also plans to take its headcount to 250 people from the current 120.
"People today are comfortable shopping for electronics and white goods online, even though these are high-ticket items. We connect the local sellers with customers, so that the customer gets the best deals and our partners can enjoy the benefit of better reach with an online presence," Zopper Chief Executive Officer Neeraj Jain told PTI.
He added that it has an asset-light model since it does not own any warehouses or ship products to the clients.
GMV run rate is a term used in online retailing to indicate total sales value of merchandise sold through the marketplace over a certain period of time.
The platform allows users to discover products and offers as well as compare products and buy them. Its biggest competitors in the electronics e-tailing segment include Flipkart and Snapdeal.
Zopper has presence in 12 cities including Delhi, Mumbai and Chennai. It plans to expand its operations to 50 cities by the end of the fiscal.
"Our hyperlocal approach helps the customer get the best prices and shorter delivery times. We have about 10,000 sellers on board and we hope to take the number to 30,000," Jain said.
The company counts Tiger Global Management, Nirvana Venture Advisors and Blume Ventures among its investors. It has raised about $25 million in three rounds.
Asked if the company is looking at raising more funds, Jain said the company is currently well funded.
"We already have a GMV of $100 million and we should double this by March next year. Since, we do not have heavy investments in warehouses, we can focus our investments on strengthening our platform. We are looking at doubling our headcount as well," he said.
Jain added that the hiring will be done across technology, sales and marketing as well as operations.
In line with the growth, the Noida-based firm also plans to take its headcount to 250 people from the current 120.
"People today are comfortable shopping for electronics and white goods online, even though these are high-ticket items. We connect the local sellers with customers, so that the customer gets the best deals and our partners can enjoy the benefit of better reach with an online presence," Zopper Chief Executive Officer Neeraj Jain told PTI.
He added that it has an asset-light model since it does not own any warehouses or ship products to the clients.
GMV run rate is a term used in online retailing to indicate total sales value of merchandise sold through the marketplace over a certain period of time.
The platform allows users to discover products and offers as well as compare products and buy them. Its biggest competitors in the electronics e-tailing segment include Flipkart and Snapdeal.
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Zopper has presence in 12 cities including Delhi, Mumbai and Chennai. It plans to expand its operations to 50 cities by the end of the fiscal.
"Our hyperlocal approach helps the customer get the best prices and shorter delivery times. We have about 10,000 sellers on board and we hope to take the number to 30,000," Jain said.
The company counts Tiger Global Management, Nirvana Venture Advisors and Blume Ventures among its investors. It has raised about $25 million in three rounds.
Asked if the company is looking at raising more funds, Jain said the company is currently well funded.
"We already have a GMV of $100 million and we should double this by March next year. Since, we do not have heavy investments in warehouses, we can focus our investments on strengthening our platform. We are looking at doubling our headcount as well," he said.
Jain added that the hiring will be done across technology, sales and marketing as well as operations.