Continuing its ongoing acquisition spree, Snapdeal has now acquired MartMobi, a mobile-tech startup developing apps and mobile websites for SMEs and startups. Financials of the deal have been kept under wraps.
MartMobi, which was founded by Pramod Nair and Satya Krishna Ganni, currently claims to have over 150 clients across numerous domains. It helps clients deploy platforms, which offer seamless connectivity with the customers’ existing back-end systems in addition to a real-time analytics engine to improve conversions and user engagement.
Talking about the acquisition, Snapdeal co-founder and COO Rohit Bansal said,
We are focusing on mobile platform as about 75% of orders are coming from mobile-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.
When asked about whether MartMobi will be merged into Snapdeal or will continue to function as a separate entity, Bansal said,
We are still working on the roadmap ahead. But their expertise will definitely be integrated with our platform.
MartMobi is one of several acquisitions which Snapdeal has closed this year. It recently acquired one of the biggest players in India’s online recharging space, FreeCharge, for a speculated $400 Million. Moreover, it has been buying off smaller startups as well, like the majority stake acquisition in Rupee Power, in a bid to diversify its standing from being just an online marketplace to a multi-purpose online transaction platform.
Earlier this year, Snapdeal acquired GoJavas to bolster its logistics services, which until now, were dependent on third party courier services. Before GoJavas, Snapdeal acquired luxury products marketplace Exclusively.com, to give itself a special selling point against competitors.
However, MartMobi acquisition is in stark contrast with others. While most of Snapdeal’s acquisitions have been largely to diversify its business, MartMobi is more of a tech-strengthening acquisition. With MartMobi, Snapdeal will be looking to aggressively pursue its mobile ambitions, a move similar to its bigger rival Flipkart.
