To strengthen its discovery platform, Snapdeal has acquired a Silicon Valley Startup, Reduce Data, which also has presence in Chennai. It was set up in 2012 by Asif Ali, Vagmi Mudumbai (CTO) and Darryl Jose (COO). With this acquisition, Snapdeal aims to build a ‘world class discovery platform’ for over 200,000 sellers on its marketplace. As part of the deal, the Reduce Data team will join Snapdeal to further strengthen its technological capabilities.
Reduce Data’s platform uses artificial intelligence, real-time data and other tools, to help brands deliver advertising strategies for consumers across platforms and devices, and has customers across the US, India, and the UK.
This is 12th buyout of Snapdeal since 2010. This year alone, the company had acquired mCommerce payments firm Freecharge for $450 million in cash and stock, mobile technology startup MartMobi, and mobile tech development startup ‘Letsgomo labs’. It had also picked up stakes in digital financial services platform RupeePower and logistics venture GoJavas.
Snapdeal has targeted making up to 10 more investments in the current financial year. It is scouting for acquisitions in mobile technology & supply chain space, to take over on Flipkart and Myntra which are going stronger day by day with their mobile strategy.Category Business