MUMBAI, INDIA: Snapdeal has acquired Reduce Data; a Silicon Valley based artificial intelligence start-up.
The acquisition is a part of the company’s strategy to strengthen its discovery platform as the e-commerce major competes with giants like Flipkart and Amazon.
Founded in 2012 by Asif Ali, Reduce Data has a programmatic display advertising platform that leverages artificial intelligence, real-time data and has customers across the US, India and the UK.
“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,” Snapdeal said in a statement.
It must be recalled that Snapdeal acquired payments and mobile recharge start-up Freecharge in a cash-and-stock deal (estimated at $400-450 million), MartMobi and Letsgomo Labs as well as picked up stakes in digital financial services platform RupeePower and logistics venture GoJavas.
Founded in 2010, Snapdeal has over 40 million registered users and over two lakh business sellers.