Online marketplace Snapdeal.com had
acquired Letsgomo Labs, a mobility solutions company. The move is aimed at
strengthening its position in mobile commerce as online consumers in India
increasingly choose to shop over their phones. Letsgomo was founded by Manav
Kamboj and Vikas Banga. Its 76 member team will join Snapdeal and strengthen
the organization mobile technology capabilities.
Letsgomo provides mobile technology
solutions, design and strategy, besides consulting businesses in conceptualization
of applications and mobile sites to implementation and hosting of the mobile
platform. The company also works with leading e-commerce companies to help them
strengthen their mobile capabilities.
In April, Snapdeal acquired mobile
recharge service Freecharge in one of the biggest ever deals in the country start
up domain, making Snapdeal one of the largest mobile commerce companies in
India. In May, Snapdeal also announced the acquisition of Hyderabad based
mobile technology company Martmobi for an undisclosed amount. The platform will
help Snapdeal strengthen its mobile platform for sellers.
Snapdeal, promoted by New Delhi
based Jasper Infotech Pvt. Ltd., currently gets 75% of its total orders via
mobile based transactions. Some of the investors in Snapdeal include Ratan
Tata, Softbank, Blackrock, and Temasek, eBay Inc., Premji Invest, Intel Capital
and Bessemer Venture Partners.
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