TargetingMantra has presence in US, India.
By Sreekanth A. Nair
Snapdeal has acquired TargetingMantra, a marketing analytics firm, the Indian e-commerce major said on Thursday.
TargetingMantra is a predictive marketing automation and personalization tool for e-commerce platforms. The company, which is headquartered in California, has an office in Gurgaon, India.
“At Snapdeal, TargetingMantra’s team will further the on-going initiative to build the customer experience engine, which will personalize shopping experiences for customers,” Snapdeal said in a statement.
Snapdeal didn’t disclose the amount of the deal.
TargetingMantra was founded in March 2013 by former Amazon executive Saurabh Nangia and management consultant Rahul Singh. It offers one product for predictive marketing automation and another one for personalization.
“Personalisation is a key piece which helps consumers discover and transact in a fast, frictionless and intuitive manner. The TargetingMantra team comes with valuable experience in driving superior customer experience through machine learning,” Snapdeal co-founder Rohit Bansal was quoted as saying by PTI.
Snapdeal had raised $200 million in February in funding led by Ontario Teachers’ Pension Plan (OTPP) and $500 million in August last year from Foxconn, Alibaba, and Softbank with participation from other investors.
Snapdeal has been widening its network and presence by acquisitions and fundraisings for a few years in order to face the tough competition from e-commerce giants Flipkart and Amazon.
In September last year, Snapdeal acquired Silicon Valley-based startup Reduce Data, a programmatic display advertising platform, that uses artificial intelligence, real-time data, and other tools, to help brands deliver advertising strategies for consumers across platforms and devices.
In 2014, TargetingMantra had raised $1.1 million funding from 500Startups, Nexus Venture Partners, and One97 Mobility Fund.
According to the estimates of Associated Chambers of Commerce and Industry of India, along with PricewaterhouseCoopers, the e-commerce industry of India will register an annual growth of 35 percent and will cross the dream figure of $100 billion by 2019. The current turnover from e-commerce business is estimated as $17 billion.