To further enhance its mobile capabilities, e-commerce major Snapdeal has acquired mobile solutions company Letsgomo Labs, for an undisclosed amount. After the acquisition, the Letsgomo team will join Snapdeal to work on its mobile technological capabilities.
This is Snapdeal’s 12th buy since it was founded in 2010. The first acquisition was in 2011 (see table).
Founded by Manav Kamboj and Vikas Banga, Letsgomo provides end-to-end mobility solutions to businesses.
“Snapdeal is focused on building strong mobile capabilities and we are truly excited to be a part of the Snapdeal family. 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,” said Kamboj.
Currently, Letsgomo is a 76-member team and works with leading e-commerce firms to help strengthen their mobile capabilities. This acquisition, Snapdeal says, is in line with its plan of strengthening its mobile platform. It also acquired Martmobi, a mobile technology start-up, in May, which was a step towards strengthening its mobile platform.
Rohit Bansal, co-founder, Snapdeal, said, “Mobile is one of our focus areas and in a span of just two years, the medium has proved to be one of the biggest growth drivers. Delivering a great user experience across varying data connections and numerous handsets being used in the country is the guiding principle for our mobile initiatives.
Over 75% of our sales now come through mobile platforms and the Letsgomo team becoming a part of our family will further propel our efforts in this direction.”
For Updates Check Company News; follow us on Facebook and Twitter