Online marketplace Snapdeal has acquired mobile technology startup MartMobi for an undisclosed amount, a move that will help the firm strengthen its mobility platform for merchant partners, reports Business Today.
Founded by Pramod Nair and Satya Krishna Ganni, Hyderabad-based MartMobi creates mobile sites and apps for e-commerce stores, small and medium-sized businesses.
"We are focusing on mobile platform as about 75 per cent of orders are coming from mobiles-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," Snapdeal co-founder and COO Rohit Bansal told PTI.
With over 150 clients, MartMobi enables seamless connectivity with the customers' existing back-end systems in addition to a real-time analytics engine to improve conversions and user engagement. Currently, it has a 15 member team.
Asked if MartMobi will continue to work as a separate entity, Bansal told Business Today, "We are still working on the roadmap ahead. But their expertise will definitely be integrated with our platform."
E-commerce giant Snapdeal has been on an acquisition spree, beefing up its presence as it takes on players like Flipkart and Amazon in the burgeoning $3 billion Indian e-commerce industry. In 2015 alone, Snapdeal acquired payments and mobile recharge startup Freecharge in a cash-and-stock deal (estimated at $400-450 million) as well as picked up stakes in digital financial services platform RupeePower and logistics venture GoJavas.
Founded in 2010, Snapdeal has over 40 million registered users and around 1.5 lakh business sellers. The online marketplace, which raised about $1 billion last year, including $627 million from Japan's SoftBank, has been reportedly scouting for acquisitions in mobile technology and supply chain space.
Snapdeal co-founder Kunal Bahl has, in the past, indicated that the target companies would be across sizes, ranging from less than $1 million to $100 million.