While the company hasn’t disclosed any financial details on the acquisition, a The Hindu Business Line report pegs it at $5 million, primarily in stock and cash. We are currently awaiting a confirmation from Infibeam on this.
Infibeam COO Sachin Oswal says this acquisition will strengthen their digital marketing capabilities in social media and SEO, SEM among others and allow them to offer digital marketing to its B2B merchants who use the company’s digital commerce platform BuildaBazaar and provide marketing solutions to its B2C customers on Infibeam.com.
ODigMa CEO Advit Sahdev told Business Line that he and 100 employees will now continue as a separate, subsidiary company of Infibeam. Sahdev will be relocating to Ahmedabad shortly.
Going forward, the company plans to offer a comprehensive suite of marketing, technology and analytic solutions to its existing and potential merchants on BuildaBazaar platform at an affordable price.
Started in 2011, ODigMa offers digital and mobile marketing solutions which includes search engine optimization, web designing, web development, media planning, search engine marketing, social media marketing (Facebook, Twitter, YouTube, LinkedIn etc), mobile marketing solutions, mobile application development and performance based marketing solutions. It also offers solutions for e-commerce platform development and maintenance.
It claims to be a profitable entity and Sahdev says they had a turnover of $1 million until the third quarter of the current financial year.
The company claims to have a client base of over 400 brands, for which it has developed social applications and campaigns on Facebook, WhatsApp and Twitter. Its client base includes Myntra, MakeMyTrip, Airtel, MTS, Marks & Spencer, Aditya Birla Group, HiDesign and Philips.
This is a key acquisition for Infibeam’s BuildaBazaar considering that the competition in the Indian DIY e-commerce market is increasing: Last month, Payment gateway company CCAvenue* had relaunched its platform to offer a DIY webstore, Facebook & Twitter management, Facebook apps and analytics among others. DIY e-commerce platform Shopify had recently entered India, while companies like Kartrocket and PowerStores have raised funding. Other competitors include MartJack, 39shops.com, ambab.com, bigcommerce.com, and zepo.in. Sellmojo.com also allows creation of e-commerce stores on Facebook.
BuildaBazaar claims to be currently hosting more than 20,000 retail stores online over its platform and had entered the UAE market in November 2013. Back then, Infibeam had also stated plans of launching BuildaBazaar in 10 more countries over the next year.
*Disclosure: CCAvenue is an advertiser with Medianama