After raising USD 627 Million from
Japan Softbank online marketplace Snapdeal.com, owned by Jasper InfoTech Pvt.
Ltd. has acquired gifting recommendation technology platform Wishpicker.com for
an undisclosed amount. The acquisition of Wishpicker comes seven months after
Snapdeal acquired Doozton, a social product discovery technology platform. Wishpicker
is Snapdeal fifth acquisition. The company had earlier acquired Grabbon.com,
esportsbuy.com, and shopo.in.
Wishpicker offers gifting options
based on different parameters like relationship with recipient, their age, and
personality. The current acquisition enables Snapdeal to enter into the personalized
gift segment. Wishpicker brings with it an edge to the premier market place.
Snapdeal, an intelligent recommendation user experience is helping users to
discover the unique gift ideas from across the internet. Users can also find gift
suggestions based on a person’s social media activities like Facebook “likes”
and other interests listed on social media.
With over 30 million members and
more than 50,000 sellers, Snapdeal.com delivers products to 5,000 cities and
towns in India. Snapdeal has received funding from several global marquee investors
like Softbank, Blackrock, Temasek, eBay, Premji Invest, Intel Capital, Bessemer
Venture Partners, Ratan Tata, Nexus Venture Partners, and Kalaari Capital.
Snapdeal currently claims to offer
more than five million products across 500 plus categories on its platform. The
firm aims to expand its merchant base to one million in the next three years.
Online retail is valued at $3.1 Billion and is estimated to grow to $22 Billion
in five years. Snapdeal has now become one of the fastest growing and among the
top three online marketplaces in India.
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