On Thursday, Snapdeal.com announced the acquisition of Noida-based an online gift recommendation portal, Wishpicker. The deal amount has not been disclosed.
The acquisition is said to enable Snapdeal to further personalize buying experience & improve conversions through recommendation algorithms developed by Wishpicker.
Wishpicker, which was founded last year Apurv Bansal and Prateek Rathore, offers users gifting options based on different parameters like relationship with the recipient, age, personality etc. It also offers gift suggestions based on Facebook likes and interests.
It is interesting to know that Wishpicker was already working with multiple e-commerce players such as Flipkart, Myntra, Healthkart, Fernsnpetals, Caratlane etc. as per its website. So what will happen with these associations Wishpicker has, is yet to be seen. This new acquisition can still help Snapdeal to gain some insights on its competitive landscape.
Announcing the acquisition, Rohit Bansal, Co-Founder of Snapdeal.com said, “At Snapdeal.com our focus is to leverage technology to create life changing experiences for buyers and sellers. This is an important acquisition for us in terms of adding new technology capabilities and helping sellers connect with buyers in newer ways.”
Earlier this year Snapdeal.com had acquired Doozton.com, a social product discovery technology platform, focused on the fashion and lifestyle categories, which helps consumers discover trending products and designs from online stores across India.
The other players in the same space include Giveter, Giftxoxo, Giftology (badhai.in).
Amazon too is in talks to acquire a company in the gifting segment, Qwikcilver. Qwikcilver is a gift card technology venture that provides gift cards to brands like Shoppers Stop, Croma, Westside, Flipkart, Amazon etc. Hence it will gain a similar leverage like Snapdeal against its competition.
Image Source: WishpickerCategory Business Investments