To give a push to its advertising revenues, online e-commerce platform Flipkart has acquired Bengaluru-based mobile advertising platform Adiquity for an undisclosed amount.
As per a YourStory report, Adiquity will power Flipkart’s external marketing, where brands can use Flipkart data on user behavior to target customers on the Adiquity platform across publishers. Also, the platform will allow merchants to promote their products on the e-commerce portal.
Started in 2006, Adiquity is a mobile focused advertising platform enabling app developers and mobile publishers earn revenue from their mobile revenue. It also helps ad agencies, ad networks, DSPs and other media buyers to acquire global media traffic.
The company serves 25 billion ad impressions on a monthly basis for over 200 countries and has 15,000 publishers and app developers using its platform. The firm had raised $ 7 million in 2006 and secured another $8 million two years later. It is backed by Sequoia and Sandstone Capital respectively.
In 2014, Flipkart had made a “strategic investment” in Ngpay, a payment service and a marketplace that introduced mobile payments in India. Flipkart had raised over $1.9 billion last year alone and with this acquisition the company has also hinted its plan of acquiring more companies this year.Category Business