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It’s acquisition time for Indian ecommerce companies. More the ecommerce in India are gaining foothold, the key players in the sector are pulling up newbies under the fold. <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, which has acquired <keyword id="2871211" type="UNKNOWN" weightage="20" keywordseo="Mobi-Kwik">Mobi Kwik</keyword>, an online payment platform recently has hit the headlines once more. This time, it’s Snapdeal’s parent company <keyword id="6481662" type="COMPANY" weightage="20" keywordseo="Jasper-Infotech">Jasper Infotech</keyword>, which has acquired mobile commerce startup <keyword id="2868543" type="UNKNOWN" weightage="20" keywordseo="MartMobi">Martmobi</keyword>, its 10th buyout, for an undisclosed sum. 
 
As per a news report in The Economic Times, Hyderabad-based Martmobi's mobile-specific platform and solutions allow small and medium-sized businesses and brands to build mobile stores and apps that can connect with customers' existing back-end systems. The company, formed in 2008, also provides real-time analytics to improve conversions and user engagement. 
 
"They've done a great job in solving merchant problems when it comes to mobile internet. We have already done a lot of work in that area, and we expect this acquisition to take us to the next level," Rohit Bansal, co-founder and chief operating officer of Snapdeal told the ET. 
 
Snapdeal, which has 40 million users, sees about 75% of its total sales through mobile phones, according to the company. 
 
The company has been actively scouting for acquisitions in the broader mobile and data analytics segment, and since the start of 2015 it has already announced four buyouts, including the $450 million (about Rs 2,880 crore) cash-and-stock acquisition of mobile recharge and payments venture Freecharge in April. 
 "It is all about getting to the market early with the technology. While <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> has access to its global tech pool, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> and Snapdeal will continue to acquire mobile tech firms," Ratul Ghosh, former <keyword id="373910" type="POSITION" weightage="20" keywordseo="head-of-strategy">head of strategy</keyword> at <keyword id="161767" type="COMPANY" weightage="20" keywordseo="eBay-India">eBay India</keyword> and former <keyword id="2871210" type="UNKNOWN" weightage="20" keywordseo="chair-of-e-commerce-committee">chair of e-commerce committee</keyword> told the financial daily. 
 In an exclusive chat with the ET last month, Snapdeal <keyword id="24211" type="POSITION" weightage="20" keywordseo="chief-executive">Chief Executive</keyword> <keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> said that the company was aiming to make about 10 more acquisitions in the current fiscal. While the company did not disclose the size of its war chest, its recent purchases have been fuelled by the nearly $1 billion (about Rs 6,400 crore) it raised last year. 
 The company, which is in the midst of an attritional war with rival online marketplaces Flipkart and Amazon, is backed by a host of marquee strategic and financial investors, including <keyword id="6355311" type="COUNTRY" weightage="20" keywordseo="Japan">Japan</keyword>'s <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, BlackRock, eBay and PremjiInvest, the personal investment arm of <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> <keyword id="6364480" type="POSITION" weightage="20" keywordseo="Chairman">chairman</keyword> <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>.

Snapdeal is shopping with a vengeance. And this time it’s mobile start-up Martmobi

<keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> has acquired mobility solutions company <keyword id="2900738" type="UNKNOWN" weightage="100" keywordseo="Letsgomo-Labs">Letsgomo Labs</keyword> in a bid to improve its mobile technology capabilities. 
 
The Letsgomo team will join the e-Commerce marketplace, Snapdeal, after the completion of the acquisition. 
 
"Over 75% of our sales now come through mobile platforms and Letsgomo team becoming a part of our family will further propel our efforts in this direction," said Rohit Bansal, co-founder of Snapdeal. 
 
Letsgomo Labs, which was founded by Manav Kamboj and Vikas Banga, assists companies with end-to-end mobility solutions like building mobile strategies, conceptualisation of applications and mobile sites, implementation and hosting. 
 
Economic Times reported mobile is one of the key growth drivers of e-Commerce in the country and building a robust mobile commerce platform has been a key focus area for Snapdeal. The company recently appointed Anand Chandrasekaran as the chief product officer, who will be working towards building a highly scalable, sustainable and future ready technology platform for the company. 
 
The recent acquisition of Martmobi - a mobile technology start up - was also a step towards further strengthening Snapdeal's mobile platform. Currently, around 75% of the orders on Snapdeal come via mobile based transactions. 
 
ET stated Snapdeal, following a series of buyouts - the biggest being its $450 million (Rs 2,870 crore) acquisition of mobile recharge platform Freecharge - has begun offering services including mobile recharge, online bill payment facilities and home and personal loans. 
 
(Image: Indiatimes)

Snapdeal acquires Letsgomo Labs

<a href="http://www.businessinsider.in/searchresult.cms?query=+Indian+eCommerce+"> Indian eCommerce industry,</a> which is at its best these days, is ‘<a href="http://www.businessinsider.in/searchresult.cms?query=aquihiring">aquihiring</a>’ these days and is looking for not just skilled people but innovative ideas as well. 
 
As per an Economic Times report, Indian startup firm <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart">Flipkart</a>, about a month ago, was in talks with Denmark-based social networking site, which matches travelers going to a destination with those who want to send goods to that place. 
 Not just this, but the firm is also prepping up to aquihire <keyword id="2970266" type="UNKNOWN" weightage="20" keywordseo="Sociotransit">Sociotransit</keyword>. If sources are to be believed, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> has made a proposal to Niral Desai, an IITian, and Pranav Shah, who has an MBA from India. The offer was to buy-out their firm, Sociotransit, and that the founder members could continue to work on the expansion of their startup while drawing a salary from Flipkart as employees. 
 While <keyword id="2970709" type="UNKNOWN" weightage="20" keywordseo="aquihiring">aquihiring</keyword> of Sociotransit is on hold, experts believe that the trend of getting talent and technology might continue. Flipkart, however, did not respond to any query related to Sociaotransit, but, it did mention that the firm’s prime focus this year would be aquihiring. 
 In fact, the trend of acquihiring — acquiring a company for its cutting-edge technology and hiring its employees for their expertise — is catching up fast in India's hypercompetitive <keyword id="436047" type="UNKNOWN" weightage="20" keywordseo="Ecommerce">ecommerce</keyword> sector. 
 
In India, there’s a huge chunk of tech experts owning their ideas and are not willing to give it up for the lure of a job with other bigger eCommerce firms. The aim is to spot the teams working on any ‘out of the box’ idea with new-age technology and then get them onboard by acquiring their company. 
 <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>'s latest acquihires include mobility solutions firm Letsgomo and Bengaluru-based <keyword id="2970268" type="COMPANY" weightage="20" keywordseo="Grabbon">Grabbon</keyword>. Its recent product Shopo, an app-only zero-commission marketplace, is engineered by the MartMobi team acquired earlier this year. 
 
Rivals Flipkart and <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal+">Snapdeal </a>are betting on the idea of aquihiring while Jabong is in no hurry to get into the race anytime soon. 
 
A Flipkart spokesperson said, "We embrace the fact that not all innovation can happen internally, and want to join hands with disruptive companies for technology and talent." 
 
Abhishek Kumar, vice-president, corporate development, at Snapdeal says, "Now that we are a very large company in terms of number and people, (acquiring) smaller groups of companies doing cutting-edge work and bringing their team on board give impetus to the project and adds entrepreneurship zeal. Acquihires have given us good result and will be our focus in future." 
 
"It is a win-win for both the company and the candidate they are hiring along with his startup, which is mostly at an early stage," said GC Jayaprakash, executive director at RGF Executive Search. Online fashion retailer Jabong said it is open to the idea. "If the startup is going to give our organisation organic growth, add value, at the same time if the person too can add value and has a great idea at a nascent stage, we are open to taking them on board and taking over the startup," said Ashu Malhotra, head of HR at Jabong. 
Image: indiatimes

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Snapdeal is shopping with a vengeance. And this time it’s mobile start-up Martmobi

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