Snapdeal, the top E-commerce player has acquired Reduce Data, a Silicon Valley startup to strengthen its discovery platform. This would be a valuable step to compete with its major competitors Indian e-commerce industry.
Snapdeal said in a statement that "With this acquisition, the Reduce Data team will join Snapdeal and drive the roadmap to build a world class discovery platform and associated tools for brands as well as over two lakh sellers on the marketplace,".
Company's co-founder Rohit Bansal said Ali 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," he added.
Snapdeal has been on an acquisition spree, beefing up its presence as it takes on players like Flipkart and Amazon in the burgeoning Indian e-commerce industry.
Snapdeal acquired payments and mobile recharge startup Freecharge in a cash-and-stock deal (estimated at USD 400-450 million), MartMobi and Letsgomo Labs as well as picked up stakes in digital financial services platform RupeePower and logistics venture GoJavas. Snapdeal has over 40 million registered users and over two lakh business sellers. Snapdeal, which counts Japan's SoftBank, Foxconn, Alibaba and eBay among its investors, has been scouting for acquisitions in mobile technology and supply chain space.