Looks like Snapdeal hasn’t forgotten all about its roots in online retail. Despite its latest interest in online services, the marketplace is still staying true to ecommerce. Snapdeal is on a roll with its big time acquisitions. In fact it seems to be the new trend setter in online shopping.
The Latest Snapdeal Trend
On Thursday, the online platform took over another organization named TargetingMantra, for an undisclosed amount. The company specializes in management of the customer cycle through personalization, targeting and big data analytics.
This acquisition will help Snapdeal enhance the personalization of its consumer shopping experience.
TargetingMantra was founded in 2013 by management consultant, Rahul Singh and Saurabh Nangia, a former Amazon executive. The firm has offices in Gurgaon and Palo Alto too. It managed to raise around $1.1 million from major investors like One97 Mobility Fund, 500 Startups and Nexus Venture Partners since inception. TargetingMantra will use intuitive product discovery, channel selection and recommendations to boost conversion rates which will Snapdeal.
Snapdeal is Happy with its New Purchase!
“At Snapdeal, TargetingMantra’s team will further the on-going initiative to build the customer experience engine, which will personalise shopping experiences for customers,” Snapdeal said in a statement about the acquisition.
Snapdeal is always looking out for talented teams that can deliver complementing tech skills, said the marketplace’s co-founder, Rohit Bansal. According to him personalization is the key to coaxing product discovery and fast, frictionless, intuitive transactions. And the team at TargetingMantra has valuable experience in providing superior customer experience through machine learning.
The Acquisition Spree
Snapdeal has been spending like crazy acquiring diverse firms and organizations capable of aiding it in online retail. We understand that these acquisitions are all about Snapdeal’s attempts at overtake current online marketplace leaders Flipkart and Amazon.
Snapdeal has been acquiring other firms since last year. It took over mobile recharge and payments startup Freecharge, MartMobi, Letsgomo Labs and Reduce Data and bought stakes in logistics venture GoJavas and the financial services platform RupeePower.
Snapdeal trying to win points with its Customers?
Even after the news about investors pulling out of Snapdeal, the marketplace seems to be doing fine. From its commencement in 2010 till today they have managed to acquire over three lakh online sellers. But not all of them have been the happiest with the way the marketplace has been running things.
So it seems like Snapdeal wants to focus on what makes them money that is online goods. They feel focusing on the shoppers by improving personalized online shopping will get them in their customers good graces.
Could this new strategy catapult them to the most coveted number one spot? Or will it sink the marketplace into deep deep debt?
No comments:
Post a Comment