The Silicon Review ^Asia

In a recent acquisition by famous e-commerce firm, Shopmatic acquired CombineSell, a SaaS firm. These acquisitions, done for an undisclosed amount, will Shopmatic to automate its business on the online forum. Shopmatic is a Singapore-based e-commerce firm enjoying a massive presence in over 13 countries including India, Hong Kong, China, Malaysia and the Philippines with major plans of expanding to the rest of Southeast Asia by the consummation of this year. It helps business owners to list their products and services and conduct their business online.

“About 80 per cent of these merchants come from India which is our biggest market. This (acquisition) gives us an advantage in enabling the growth and success of the merchants on our platform. In a single click, merchants will now have access to numerous channels in the South East Asian countries,” said Anurag Avula, the co-founder and chief executive officer of Shopmatic.

Earlier this year, Shopmatic had also acquired a 50.1 per cent stake in Octopus, a retail management and point of sale solution provider. This e-commerce platform has helped many entrepreneurs take their business online whilst removing the hurdle of the immense amount of time and capital that it would otherwise take.