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Snapdeal acquires m-commerce tech startup MartMobi


E-commerce marketplace Snapdeal has acquired Hyderabad-based mobile technology startup MartMobi for an undisclosed amount, reports PTI. This acquisition will allow Snapdeal to provide merchants on its platform better mobility options. Snapdeal co-founder Rohit Bansal told the publication that it’s not yet decided if MartMobi will continue operating as an independent entity or not, but the expertise the startup brings to the table will be integrated with Snapdeal. However, at the time of writing this article the MartMobi site is no longer operational. Bansal also claimed that currently 75% of orders on Snapdeal come from mobile, which was one of the reasons for this acquisition.

MartMobi develops mobile sites and apps for online stores and small and medium sized businesses (SMBs). Founded by Pramod Nair and Satya Krishna Ganni, MartMobi claims to have over 150 clients. MartMobi was one of the 10 startups selected for the TechStars accelerator program, in May last year. The startup received $18,000 seed funding as part of the program. The startup was also part of IIIT–Hyderabad’s Centre for Innovation and Entrepreneurship.

In December last year, MartMobi tied-up with Shopify to enable Shopify merchants to create shopping apps and mobile sites for Android & iOS devices, as well as extensions to their Shopify-based desktop e-commerce websites. The company had signed a similar partnership with Zepo in May this year.

Snapdeal acquisitions

This has been a busy year for Snapdeal. It has made quite a few acquisitions and added several members to its top management team:

– 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), which makes it the biggest such deal in the Indian consumer internet industry, eclipsing Flipkart’s acquisition of Myntra for about $330 million.

– A month earlier, Snapdeal had acquired a majority stake in Gurgaon-based financial products and services platform RupeePower for an undisclosed amount. Following the deal, Snapdeal will offer a financial services marketplace, where you can expect to get home, auto and personal loans, credit cards and extended warranty among other services.

– In March, Snapdeal had also picked up a minority stake in logistics firm GoJavas to strengthen its supply chain infrastructure.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ