MartMobi will be folded into Snapdeal’s operations.
By Raif Karerat
WASHINGTON, DC: Snapdeal, already one of the most powerful e-commerce players in the Indian market, appears to be a beast with an appetite that cannot be sated. The online marketplace leader has swallowed up Hyderabad-based MartMobi for an undisclosed amount, reported TechCrunch on Tuesday.
Founded by Pramod Nair and Satya Krishna Ganni, MartMobi created mobile sites and apps for e-commerce stores, small and medium-sized businesses.
With over 150 clients, MartMobi technology enables seamless connectivity with the customers’ existing back-end systems in addition to a real-time analytics engine to improve conversions and user engagement, according to the Press Trust of India. At the time of its acquisition it operated with a 15-person team.
“We are focusing on mobile platform as about 75 per cent of orders are coming from mobiles-based devices. On the merchant side too, we are witnessing similar trends. The MartMobi team is a great addition as it will help strengthen the platform for sellers,” Snapdeal co-founder and COO Rohit Bansal said in a press release.
In an effort to bolster its beachhead in the $3 billion Indian e-commerce industry, Snapdeal has been on a spending and acquisition spree of late, snapping up startups such as Freecharge in a cash-and-stock deal estimated at $400-450 million, as well as digital finance platform RupeePower and logistics firm GoJavas.
While Freecharge continues to operate independently, TechCrunch reported MartMobi and its employees will be folded into Snapdeal’s overarching operations.
Founded in 2010, Snapdeal has received a total of $1.1 billion in funding to date, including a massive $627 million round led by Japan’s SoftBank.