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BenefitsPlus acquires Snowball eRetail Services
By siliconindia
New Delhi: New Delhi-based BenefitPlus, an e-commerce firm, has acquired Gurgaon-based Snowball eRetail Services to strengthen its online retail presence. Established in 2010 by Paul Shoker, BenefitPlus offers services to over 100 major corporates allowing the organization's employees to use the BenefitPlus Privilege Program to access special or exclusive discounts, offers and promotions on everyday shopping and services from local and national retailers.
BenefitPlus Media was founded in 2010 with an intention to offer a white-labelled e-commerce platform for enterprises. With presence in 15 locations, the firm expects to employ 150 people by December. The deal brings 15,000 offers across India and 55 corporate clients in IT, banking and insurance sectors.
Paul Shoker, Founder and CEO, BenefitPlus, said that the acquisition will help to speed up the growth in e-commerce economy. It not only provides synergies but enormous economies of scale in various areas especially in securing better and deeper discounts for employees. With offices in Mumbai and Bangalore, the company currently employs around 100 people and has set aside $5 million for investing in innovation opportunities.
Mohit Saxena and Rahul Monie founded snowball eRetail in 2009. The firm runs retail portal, Snowball.in, which offers products across 23 categories like apparels, jewellery, shoes, perfumes, leather goods, cosmetics, electronic products, white goods, education and other lifestyle products. Mohit Saxena, Founder and CEO, Snowball, said that from a strategic stance, this acquisition will position them as a leader in the country and gives their clients better value. They have intentions to provide several interesting and innovative benefits programs to both employers and employees in immediate future.
