Online marketplace Snapdeal on Tuesday acquired MartMobi, a Hyderabad-based mobile e-commerce platform, to augment its mobile commerce capabilities. Financial details of the transaction were not disclosed. With this acquisition, Snapdeal will get access to MartMobi’s mobile-specific platform and solutions for small- and medium-size businesses in India and around the world.
MartMobi, which was founded in 2012 by serial entrepreneurs Pramod Nair and Satya Krishna Ganni, has created instant mobile and tablet presence through mobile sites, and native apps for e-commerce stores and small- and medium-size businesses. These enable seamless connectivity with the customers’ existing backend systems in addition to a real-time analytics engine to improve conversions and user engagement.
In 2014, MartMobi was among the 10 tech startups across the globe to be shortlisted for Techstars—one of the world’s most recognised accelerator programmes. The team will now focus on creating interfaces that enhance customer and seller experience on its mobile platforms.
With mobile driving the e-commerce wave in the next stage, Snapdeal is making substantial investments to strengthen this arm of business. “Mobile has been a key focus area for us and we have built technology capabilities to create a great experience for our buyers and sellers on this platform. The MartMobi team has built world-class products for mobile commerce, which will give a fillip to our existing mobile platform,” said Rohit Bansal, co-founder, Snapdeal, in a statement.
Snapdeal already gets over 75 percent of its sales via mobile-based transactions. Earlier this year, it acquired FreeCharge, a leading mobile transactions platform, becoming India’s largest m-commerce company. Its acquisition spree continued with Exclusively.in, a fashion portal, GoJavas, a logistics firm, and RupeePower, a financial services firm.