Ecommerce giant Snapdeal has acquired the US-based programmatic display advertising platform Reduce Data for an undisclosed amount, reports Vccircle. As a part of the acquisition the engineering team at Reduce data and its founder Asif Ali, will join Snapdeal. Snapdeal will use the acquisition to provide a ‘discovery platform’ for its seller.
Founded in 2012 by Asif Ali, Vagmi Mudumbai and Darryl Jose, the platform provides dynamic ads, email, search, SEO and social retargeting, an algorithmic marketplace and Facebook campaign management. Its not clear if the company will continue to provide these services post acquisition, as it looks like this is an acqui-hire.
Note that, just last month, Snapdeal raised $500 million from Alibaba, Apple iPhone maker Foxconn and existing investor Softbank. SoftBank Internet and Media Inc (SIMI) CEO Nikesh Arora joined Snapdeal’s board as part of the investment. In October last year, Snapdeal raised $627 million from Softbank, with the latter being the largest investor in Snapdeal at that point. The company has been increasingly focusing on acquisitions and investments in recent times. Some of these include –
Letsgomo acquisition: In June, Snapdeal acquired mobility solutions company Letsgomo Labs. With the acquisition, the 76 member Letsgomo team joined Snapdeal. It was not yet clear whether Letsgomo could continue to operate independently or merge with Snapdeal. Letsgomo consulted businesses regarding building mobile strategies, conceptualization of applications and mobile sites, implementation and hosting.
MartMobi acquisition: In May, it acquired Hyderabad-based mobile technology startup MartMobi for an undisclosed amount. At that time, the company had said that this acquisition would allow Snapdeal to provide merchants on its platform better mobility options. Snapdeal co-founder Rohit Bansal.
Freecharge acquisition: In April, Snapdeal acquired online recharge and couponing site Freecharge. The value and terms of the deal weren’t disclosed, but the deal was pegged at a value of about $450 million (Rs 2,800 crore), making it the biggest such deal in the Indian consumer internet industry, eclipsing Flipkart’s acquisition of Myntra for about $330 million.
RupeePower investment: In March, Snapdeal had acquired a majority stake in Gurgaon-based financial products and services platform RupeePower for an undisclosed amount. Following the deal, Snapdeal had said it would start offering a financial services marketplace, where consumers could expect to get home, auto and personal loans, credit cards and extended warranty among other services.
Exclusively acquisition: In February, it acquired online luxury fashion store Exclusively (formerly Exclusively.in) for an undisclosed amount. Exclusively.in was acquired by rival Myntra in 2012, but Myntra probably sold back its entire stake in the company back to founder Sunjay Guleria in second half of 2013, after which the company was operating independently.