Fashion discovery startup Doozton gets acquired by Snapdeal

Fashion is the next big frontier for e-commerce sites: Snapdeal has acquired a Delhi-based fashion & lifestyle product discovery site Doozton for an undisclosed amount, reports TechCrunch. Snapdeal co-founder Rohit Bansal has told the publication that it will be using Doozton’s technology to feature personalized fashion listings and provide fashion product suggestions on Snapdeal. The terms of the acquisition were however not disclosed.

Online fashion retail is fast becoming the next battlefront for India’s growing e-commerce startups. With two of the biggest Indian e-commerce companies — Flipkart and Myntra —preparing to merge as part of $330 million deal, rival Snapdeal is now pushing aggressively to get its piece of action in the online fashion retailing space. Less than two months after eBay invested around $134 million in Snapdeal, India’s biggest e-commerce marketplace is putting some of that funding to use by acquiring fashion products discovery site Doozton, a bootstrapped startup, which is less than a year old. The companies have not disclosed the financial terms. E-commerce in India is booming, as more consumers get online and the so-called “aspirational middle-class” looks to increase spending on fashion products. 

Read full article

Comments