wordpress blog stats
Connect with us

Hi, what are you looking for?

Snapdeal acquires US-based startup Reduce Data

reducedata

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.

Advertisement. Scroll to continue reading.

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.

GoJavas stake: In the same month, it picked up a minority stake in logistics firm GoJavas to strengthen its supply chain infrastructure.

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.

Advertisement. Scroll to continue reading.
Written By

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

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

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...

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

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...

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