Snapdeal Acquires Hyderabad-Based Martmobi

Snapdeal has been on an acquisition spree, beefing up its presence as it takes on players like Flipkart and Amazon in the burgeoning $3 billion Indian e-commerce industry.

This year alone, Snapdeal acquired payments and mobile recharge startup Freecharge in a cash-and-stock deal (estimated at $400-450 million) as well as picked up stakes
in digital financial services platform RupeePower and logistics venture GoJavas.

Founded in 2010, Snapdeal has over 40 million registered users and around 1.5 lakh business sellers.

The e-commerce firm, which raised about $1 billion last year, including $627 million from Japan's SoftBank, has been scouting for acquisitions in mobile technology and supply chain space.

Snapdeal co-founder Kunal Bahl has, in the past, indicated that the target companies would be across sizes, ranging from less than $1 million (about Rs 6.4 crore) to $100 million.

Snapdeal counts eBay, Temasek, Myriad, Tybourne, Blackrock and Premji Invest among its investors.

Tata Sons Chairman Emeritus Ratan Tata also made an investment in the company.
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