Online marketplace major Snapdeal has acquired Silicon Valley-based startup Reduce Data, a programmatic display advertising platform, to strengthen its discovery platform.
While the financial terms of the acquisition were not disclosed, the Reduce Data team will join Snapdeal, in the latter’s bid to build a world class discovery platform and associated tools for brands as well as over 200,000 sellers on the marketplace, the company said in a press statement.
Reduce Data has a programmatic display advertising platform that leverages artificial intelligence, real-time data and other tools.Founded in 2012, the company has customers across the US, India and the UK.Snapdeal co-founder Rohit Bansal said Asif Ali, Founder, Reduce Data, comes with 17 years of experience in building web scale technologies, product management and building highly specialised teams focused on a data platform and ad tech products. “We are confident that Asif and his team will further strengthen our technological capabilities,” Bansal said.Since the beginning of the financial year, Snapdeal has been on an acquisition spree, in a bid to take on players like Flipkart and Amazon in the burgeoning Indian e-commerce industry.In April, the company announced the acquisition of online recharge and payments platform Freecharge, for a reported $400 million. Separately, in May, it acquired mobile commerce startup Martmobi.
Founded in 2010, Snapdeal has over 40 million registered users and over two lakh business sellers. Recently, it has secured an investment of USD 500 million led by Alibaba Group, Foxconn and SoftBank. Existing investors Temasek, BlackRock, Myriad and Premji Invest also participated in this round, taking the company’s value at about $4-5 billion.
Despite the clarification, the beleaguered e-commerce firm has shutdown marketplace Shopo in February after a year-and-a-half of operations
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