To bring in that next big break in e-commerce, Indian companies are expanding their business to other related businesses. In lieu of that, Snapdeal has today announced, that it has acquired Silicon Valley based advertising platform Reduce Data for an undisclosed sum.
Snapdeal has today revealed that it has signed an acqui-hire deal with Reduce Data to acquire the company as well as it’s team of 15 members. The company has not revealed any financial details related to the deal.
Reduce Data was founded in 2012 by Asif Ali. It helps brands to deliver advertising strategies for across various platforms and devices. To ensure that the advertiser gains high returns on its investment in advertising campaigns, the company is using artificial intelligence, real-time data and various other tools.
The eCommerce companies are now ads based on user’s activities and account details in order to recommend products to the user. Thus, the companies are spending a lot of money to get hold of talented people to build such team.
This acquisition by Snapdeal is its latest attempt to strengthen its advertising business. Earlier, it’s rival – Flipkart acquired AdIQuity Technologies, a mobile advertising technology firm to improve its ad platform.
Rohit Bansal, co-founder of Snapdeal, said,
At Snapdeal, we are always on the lookout for talented people who come with specialized skills that augment our capabilities. Asif comes with 17 years of rich experience in building web scale technologies, Product Management and building highly specialized teams focused on a data platform and ad tech products. We are confident that Asif and his team will further strengthen our technological capabilities
Asif Ali, CEO of Reduce Data, said,
We strongly believe that world-class technology innovations are happening here. The company has grown at a phenomenal pace in the last few years. We look forward to building world class technology products at Snapdeal and set new benchmarks for the industry in this space.
Snapdeal was founded in 2010 by Kunal Bahl and Rohit Bansal. Till now, it has raised over $1.6 billion in 9 funding round from 19 investors. Since 2010, the company has acquired 12 startups. It has over 40 million registered users and over 200,000 business sellers.
He has been a technology writer since more than five years. At The Tech Portal, he covers gadgets, startups and the good and bad of tech.