Online fashion and lifestyle retailer Myntra has acquired Cubeit, a Bengaluru-based tech startup focussed on content aggregation on mobile. Financial details of the transaction were not disclosed. As part of the acquisition, the team at Cubeit has been inducted into Myntra, making it an acqui-hire (acquisition) that will further strengthen and expand Myntra’s technology team.
Cubeit, led by co-founders Sarthak Jain, Nithinkumar Gadiparthi and Prathamesh Juvatkar, was founded in 2014. The company focuses on building mobile applications which allow users to aggregate content from anywhere, organise, view and share the same from a given location. It has developed an interactive mobile application that provides the user access to multiple apps depending on the need, through a smart interface and allows the same to be shared with individuals or groups.
“Technology is at the core of our operations and we are looking at leveraging it to further enhance customer experience through social and community interactions on our platforms,” says Shamik Sharma, chief product and technology officer, Myntra, in a statement.
“Myntra offers us the opportunity to leverage our skills and further build upon a very strong technological base,” says Sarthak Jain, co-founder and chief executive officer, Cubeit.
Cubeit is Myntra’s third technology-led acquisition. It acquired Native5, a Bengaluru-based mobile App development platform company, through a similar acqui-hire in May 2015 and Fitiquette, a San Francisco-based technology solution firm which is a one-of-a-kind virtual fitting room, in April 2013.