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E-commerce giant Snapdeal acquires mobility solutions firm Letsgomo Labs

With an aim to improve its mobile technology capabilities, online marketplace Snapdeal has reportedly acquired mobility solutions company Letsgomo Labs. 

With an aim to improve its mobile technology capabilities, online marketplace Snapdeal has reportedly acquired mobility solutions company Letsgomo Labs. 

According to a Economic Times report, after the completion of this acquisition, the Letsgomo team will join Snapdeal. “Over 75% of our sales now come through mobile platforms and Letsgomo team becoming a part of our family will further propel our efforts in this direction,” Rohit Bansal, co-founder of Snapdeal, was quoted in the report as saying. 

Founded by Manav Kamboj and Vikas Banga, Letsgomo Labs helps companies with end-to-end mobility solutions like building mobile strategies, conceptualization of applications and mobile sites, implementation and hosting.

For e-commerce companies in India, mobile has been one of the key growth drivers and building a robust mobile commerce platform has been a key focus area for Snapdeal, which has recently appointed Anand Chandrasekaran as the chief product officer, who will be working towards building a highly scalable, sustainable and future ready technology platform for the company. 

The recent acquisition of Martmobi – a mobile technology start up – was also a step towards further strengthening Snapdeal’s mobile platform. Currently, around 75% of the orders on Snapdeal come via mobile based transactions. Snapdeal, following a series of buyouts – the biggest being its $450 million acquisition of mobile recharge platform Freecharge – has begun offering services including mobile recharge, online bill payment facilities and home and personal loans as it looks to grab a larger slice of the country’s consumer market estimated to be worth $1.4 trillion, according to government data.

Some of the investors in Snapdeal include Ratan Tata, SoftBank, BlackRock, Temasek, eBay Inc., Premji Invest, Intel Capital, and Bessemer Venture Partners. 

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