PushOwl, a bootstrapped Indian startup which makes an online marketing tool for e-commerce stores to enable web push notification, was acquired by France based SaaS company Sendinblue.
The French company has acquired two other e-commerce marketing companies —Chatra and Metrilo—along with PushOwl, for a combined deal of more than $47 million.
According to Entrackr’s sources, Sendinblue has acquired PushOwl for over $20 million in an equal cash and stock deal. As part of the deal, PushOwl’s entire team of 17 members will join Sendinblue.
Shashank Kumar, the founder of PushOwl will continue leading the company, and will also join the Sendinblue leadership team as VP of Product.
Founded in 2016, PushOwl helps e-commerce companies within the Shopify network to send push notifications to their customers and currently have over 25,000 merchants that use its tool, including the likes of Sugar Cosmetics, Culture Kings and Lange Beauty, among others.
Around 80% of PushOwl’s customers are based outside of India. At present, the company serves over 25,000 customers across the world (majorly in the US).
“Sendinblue already has been doing email and internal SMS really well. What they did not have was push notifications. So the idea behind the acquisition is to add push notifications and bring their other offerings under a single umbrella,” Shashank Kumar, PushOwl’s founder, said during an exclusive interaction with Entrackr.
PushOwl’s team will help Sendinblue to grow its commerce wing, Kumar told us.
In FY21, PushOwl had a revenue of Rs 14 crore and raked in profits in the range of around Rs 2.25 crore, Kumar claimed. According to the company’s regulatory filings, it had a revenue of Rs 7.06 crore in FY2o and posted a profit of Rs 1.96 crore. In FY19, it made a revenue of Rs 1.86 crore and a profit of Rs 22 lakh.
Update: We have updated the headline.