Exclusive: PlaygroundOnline and Sportsnest merge, Secures funding from Blume Ventures
Online sports product retailer, PlaygroundOnline and B2B company, Sportsnest have merged and the combined entity has raised funding from Blume Ventures.
Sum greater than the parts, these two teams coming together will offer enhanced product portfolio, larger inventory, better delivery times, well grounded domain expertise and increased offline and online synergies. Post merger, PlaygroundOnline will continue to be the consumer face of the entity.
PlaygroundOnline has serviced more than 50,000 customers and post this merger, will strengthen its focus on categories including cricket, badminton, tennis, football, outdoor and adventure, cycling, running and golf. It also plans to enhance its presence in sports nutrition, apparel, footwear and gym equipment.
Sportsnest runs a very strong institutional business catering to the requirements of clubs, schools, academies and corporates focusing on cricket, apparel, footwear, team sports and racket sports.
“Blume is very happy to see two great teams merge and two diverse business models emerge that each can become a fairly large business. Blume and the teams also see efficiencies in rationalizing supply chain, taking on interesting new business models such as franchising, distribution of select brands and a pan-india B2B rollout in the imminent future.” Kartik Reddy, Managing Partner, Blume Ventures. tweet
Earlier, Snapdeal acquired eSportsBuy to enter into this category.
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