SWAP, a Dhaka-based business, said earlier this month that it has purchased a 49 percent ownership in BDHotDeals, a drop-shipping platform. Customers can purchase genuine branded products from both abroad and in Bangladesh through BDHotDeals.
The move comes at a time when SWAP is ramping up its expansion efforts. Existing SWAP customers should be able to purchase authentic products from BDHotDeals as a result of the agreement. The deal’s specifics were not disclosed by the firms.
SWAP Acquisition of BDHotDeals: 49% Stake Ownership
Bangladesh-based used products marketplace SWAP has signed a deal with e-commerce platform BDHotDeals, which aggregates the best deals online from international markets and Bangladesh. The new customers will benefit from SWAP’s strong customer base, strategic and operational acumen, infrastructure, and brand value. Customers can now directly exchange used products with new ones across various categories such as smartphones, laptops, appliances, vehicles, and more.
Several notable strategic acquisition deals have occurred in Dhaka’s startup ecosystem in the recent two years. The acquisition is being considered as a strategy for expanding into new verticals, markets, acquiring new users, and creating competitive moats. As more companies raise significant financing, SWAP’s efforts suggest that more comparable partnerships will emerge.
SWAP founder and CEO Parvez Hossain mentioned in a social media post-
“This will give the existing 600,000 + registered users of SWAP and any customers who want to get genuine products from abroad the opportunity to buy them in the most transparent way,”
SWAP is a company that buys used mobile phones, cars, bikes, furniture and sells them through its online platform and offline channels. Many SWAP users go for exchange on the SWAP platform where they sell a used product and buy a new or used product. The deal with BDHotDeals is expected to add steam to that strategy.
You can check out SWAP and BDHotDeals through their websites.