In a move to further strengthen its position in the mobile e-commerce market, Snapdeal has acquired MartMobi, a Hyderabad-based mobile technology startup. The latter focuses on creating mobile sites and apps for e-commerce platforms for both small and medium-sized enterprises.
”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.
In recent times, Snapdeal has been on an acquisition spree to face its rivals Flipkart and Amazon. In 2015 only, Snapdeal acquired Freecharge, a mobile online payments platform, in a cash-and-stock deal estimated at $450 million. Currently, Snapdeal has over 40 million registered users and about 1.5 lakh business sellers.
Last year, Snapdeal raised around $1 billion with $627 million from Japan’s Softbank. Other investors that have contributed to Snapdeal are eBay, Temasak, Myriad, Tybourne, Blackrock and PremjiInvest.