07 May 2016 Current Affairs GK: Snapdeal.com, India’s second largest e-commerce company, has acquired TargetingMantra (Insightful Pvt. Ltd), a Gurugram-based marketing and personalisation services company for an undisclosed amount.
The companies did not disclose the financial details of the transaction. The Targeting Mantra’s team will help in building the customer experience solutions that will personalise shopping experiences for customers.
Founded in March 2013 by Saurabh Nangia and Rahul Singh, TargetingMantra specialises in building products for enhancing customer buying experience, increasing conversion rates through intuitive product discovery, recommendations and channel selection.
Snapdeal was founded in 2010 by Kunal Bahl and Rohit Bansal as a deals site, has become the biggest local rival to Flipkart.It raised $200 million from the Ontario Teachers’ Pension Plan and others in February and with this round of investment the company’s valuation has risen to $6.5 billion.
Snapdeal : Snapdeal is an online marketplace, based in New Delhi, India. The company was started by Kunal Bahl, a Wharton graduate as part of the dual degree M&T Engineering and Business program at Penn, and Rohit Bansal, an alumnus of IIT Delhi in February 2010. Snapdeal currently has 275,000 sellers, 30 million-plus products and a reach of 6,000 towns and cities across the country Investors in the company include SoftBank Corp, Ru-Net Holdings, Tybourne Capital, PremjiInvest, Alibaba, Temasek Holdings,Bessemer Venture Partners, IndoUS Ventures, Kalaari Capital, Saama Capital, Foxconn Technology Group, Blackrock, eBay, Nexus Ventures, Intel Capital, Ontario Teachers' Pension Plan, Singapore-based investment entity Brother Fortune Apparel and Ratan Tata.