Google buys BufferBox for a reported $17 million
Google has acquired a start-up co-founded by two Canadians of Indian origin, Aditya Bali and Jay Shah.
New Delhi: Google has acquired a start-up co-founded by two Canadians of Indian origin, Aditya Bali and Jay Shah. BufferBox announced the news on its official blog. Though the financial details of the acquisition have not yet been disclosed, TechCrunch reports that the acquisition is for more than $17 million.
The startup based in Waterloo, Canada, provides online shoppers with temporary lockers to receive delivery of their packages. This acquisition is seen as Google's attempt to take on Amazon Locker, a similar service provided by online-shopping giant Amazon.com.
BufferBox was launched in the University of Waterloo, in which the three co-founders, Aditya Bali, Jay Shah and Mike McCauley studied in and is gradually expanding its operations. TechCrunch quotes a Google spokesperson saying, "We want to remove as much friction as possible from the shopping experience, while helping consumers save time and money, and we think the BufferBox team has a lot of great ideas around how to do that."
In an interview to Financial Post Mike McCauley, the CEO of BufferBox said, "So us being able to work very closely with someone like Google allows us to leverage their resources and share vision and combine thoughts and talent together to really make something a lot bigger than we ever would have imagined. We're really excited to be able to build out that vision quite a bit quicker than we otherwise would have without them onside."