Snapdeal, the online marketplace has acquired Letsgomo Labs, a mobility solutions company. This move comes as Snapdeal works to strengthen its hold in the m-commerce domain. The e-tailer had also recently acquired Martmobi, a mobile technology start up.
Snapdeal had also acquired FreeCharge earlier this year to become one of the largest M-commerce platforms. The company says that 75 per cent of their traffic is through mobile transactions. Rohit Bansal, co-founder, Snapdeal, comments, "Mobile is one of our key focus areas and in a span of just two years, the medium has proved to be one of the biggest growth drivers for the company. Over 75 per cent 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."
Adds Manav Kamboj, co-founder, Letsgomo, "Mobile will continue to drive e-commerce in the country and how companies utilise this platform will be a key success determinant. We look forward to building world-class mobile technology at Snapdeal and set new benchmarks for the industry in this space."
Snapdeal, established in 2010, offers products across more than 500 categories to 12 million users. It has recently partnered with several global marquee investors such as SoftBank, BlackRock, Temasek, eBay Inc, Premji Invest, Intel Capital, Bessemer Venture Partners and Ratan Tata.First Published : June 16, 2015