Indian E-commerce giant made its first acquisition of the year; acquired Bengaluru based AdIQuity, a global mobile ad network enabling app developers and mobile publisher’s revenues from their mobile inventory. AdIQuity is backed by VC’s like Sequoia Capital and has raised $15 Million across two rounds in 2006 and 2008.
Founded by IITian Anurag Dod, AdIQuity also facilitates ad agencies, ad networks, DSPs and other media buyers to acquire global mobile traffic. The nine year old venture claims to have 150 Million monthly active users in its network spread across 200 countries generating 25 Billion ad impressions every month. The country’s most valuable startup, valued at $11 Billion is seeking to expand its presence and capabilities by the inorganic way this year. The AdIQuity acquisition will enable.
Flipkart to boost its external marketing capabilities as it aims to diversify into online advertising and brand consulting for vendors. The additional revenues from these verticals would help Flipkart in becoming profitable prior to a listing. Having kicked off the acquisitions, it would be worth looking at the newer capabilities the company would be looking at. Last year, to strengthen its fashion vertical it bought out Myntra in one of the largest deals in the startup space.
Recently, Snapdeal acquired premium and luxury fashion retailer, Exclusively.com and Wishpicker.com, an online gift recommendation portal. While Amazon picked up a minority stake in Gift card Technology and retail firm, QwikCilver Solutions.