wordpress blog stats
Connect with us

Hi, what are you looking for?

Snapdeal acquires m-commerce tech startup MartMobi

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:

Advertisement. Scroll to continue reading.

– 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.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Releasing the policy is akin to putting the proverbial 'cart before the horse'.

News

The industry's growth is being weighed down by taxation and legal uncertainty.

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

News

This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ