London e-commerce company acquires marketplace service firm
An e-commerce business growth agency has acquired an international outsource marketplace services organisation.
Muloot, which is based in London, said that the acquisition of Pivot International would enhance its global expansion services.
The company hopes that the acquisition will enable Muloot to capitalise on the growing e-commerce marketplace economy, which has seen global sales increase from $1.34bn in 2014 to $3.54bn in 2019.
The co-founders of Pivot International, Neil Tunbridge and James Storie-Pugh, will assume leadership roles as joint managing directors of the new combined business, Muloot Group Limited.
Neil commented: “With the intricacies of Brexit casting doubt on the business-sense of trading with the UK, Muloot’s acquisition of Pivot throws a light on the post-Brexit shadow.”
“By offering business enablement services and bringing together two forward-thinking and globally-aspirational companies, Muloot Group will enable both inward investment into the UK economy, as well as facilitating export growth for UK businesses, to give the economy a much-needed boost.”
James added: “As we add more marketplaces to our roster of international channels – currently standing at 12, in multiple global territories, and more services that best suit the needs of the merchants selling on these marketplaces Muloot Group will constantly evolve and iterate the services offered.
“It is likely that we will add warehousing and fulfilment services to the current service proposition in 2020, as well as likely building marketplaces of our own.”
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