The Indian start-up ecosystem has grown at an enormous rate in the past few years as various start-ups are being acquired by larger enterprises apart from the emergence of newer start-ups. The latest in the string of acquisitions is the one conducted by e-commerce heavyweight Snapdeal over Silicon Valley’s Reduce Data. This comes as a major move from the Indian start-up industry acquiring a firm from the very hub and birthplace of the start-up culture.
Founded in 2012 by Asif Ali, Reduce Data offers a programmatic display advertising platform that leverages AI, real-time management of data and other supporting resources.
“With this acquisition, the Reduce Data team will join Snapdeal and drive the roadmap to build a world class discovery platform and associated tools for brands as well as over two lakh sellers on the marketplace,” Snapdeal said in a statement.
Snapdeal co-founder Rohit Bansal commented that Ali comes with over 15 years of experience in creating and expanding web scale technologies, product management and building state-of-the-art specialized teams focussing on data platforms and advertising-oriented tech products.
The company has been an acquisition spree. Earlier this year, it acquired mobile recharge and payment portal Freecharge at an estimated US$ 400-450M. It also acquired MartMobi and Letsgomo Labs along with picking up stakes in digital financial services platform RupeePower and logistics venture GoJavas. These acquisitions have been predicted to strengthen Snapdeal to deal with rival e-commerce titans Amazon and Flipkart.