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Snapdeal acquires analytics firm TargetingMantra


Ecommerce marketplace Snapdeal has acquired TargetingMantra, an analytics firm that provides catalogue personalization, marketing and big data analytics, for an undisclosed amount. Sources told MediaNama that this an ‘acquihire’, but Snapdeal refused to confirm or deny this, saying only that the founders of TargetingMantra will join Snapdeal post acquisition.

TargetingMantra was founded in March 2013 by Saurabh Nangia and Rahul Singh, and has offices in Gurgaon and Palo Alto. Its analytics platform will help Snapdeal build a better customer experience and conversion rates through product discovery, recommendations and categorization methods.

Currently, Snapdeal claims to list more than 30 million products across 800 categories. It also claims to have more than 300,000 sellers, delivering to 6000 cities and towns in India.

Bus/flight tickets and food orders: Last month, Snapdeal introduced flight and bus booking as well as food order on it’s Android app. Food order currently lists various restaurants in the user’s area, and lets users search for dish name and find food options by cuisine. The flight tab gives users the choice to book one way or two way flights after filling in basic flight details; this option is being offered via Cleartrip.

Snapdeal Funding: In February, Snapdeal had raised $200 million in funding led by Ontario Teachers’ Pension Plan (OTPP) and with participation from Iron Pillar and other investors. The company will use the funds to build up its capabilities and for bettering consumer and seller experience. In August last year, Snapdeal raised $500 million from Foxconn, Alibaba and Softbank with participation from various other investors. It had also raised $627 million from Softbank in October 2014.

Previous acquisitions

-In September 2015, Snapdeal had acquired the US-based programmatic display advertising platform Reduce Data for an undisclosed amount. Snapdeal will use the acquisition to provide a ‘discovery platform’ for its sellers.

-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.

-In April 2015, it 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)

-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.

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

-In February 2015, 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.

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