India’s online marketplace, Snapdeal has announced that it has acquired Silicon Valley Startup, Reduce Data.
Post acquisition, entire team including Asif Ali, CEO of Reduce Data will join Snapdeal and drive the roadmap to build a world class discovery platform and associated tools for brands as well as over 200,000 sellers on the marketplace.
Reduce Data is founded in the year 2012 by Asif Ali, Vagmi Mudumbai and Darryl Jose. It’s an advertising platform that helps advertisers to reach and advertise to billions of customers globally.
Last month, Snapdeal has raised USD 500 million from Alibaba Foxconn and existing investor Softbank.
Prior to this acquisition, in May 2015, Snapdeal acquired Hyderabad-based mobile technology start-up MartMobi for an undisclosed amount.
Speaking about this acquisition, Rohit Bansal, Co-Founder, Snapdeal said, “At Snapdeal, we are always on the lookout for talented people who come with specialized skills that augment our capabilities. Asif comes with 17 years of rich experience in building web scale technologies, Product Management and building highly specialized teams focused on a data platform and ad tech products. We are confident that Asif and his team will further strengthen our technological capabilities”.
Commenting on this, Asif Ali, CEO, Reduce Data said, “We are very excited to become a part of the Snapdeal family. We strongly believe that world class technology innovations are happening here. The company has grown at a phenomenal pace in the last few years. We look forward to building world class technology products at Snapdeal and set new benchmarks for the industry in this space.”