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Snapdeal Grabs Stake In Online Product Comparison Startup Smartprix

Snapdeal Grabs Stake In Online Product Comparison Startup Smartprix

Going forward on its acquisition spree Snapdeal has recently acquired a stake in online pricing and product comparison website Smartprix.The news comes as no surprise as Snapdeal, in the Fiscal Year 2014, had acquired a 10% stake in Smartprix, says reports.

Amongst Snapdeal’s senior most employees, VP engineering Amitabh Misra also joined the board of Smartprix as one of the directors.

Founded in May 2011 by IIT-D students, Abhinav Choudhary and Hitesh Khandelwal, Smartprix provides information about products and prices and aims to improve user’s online shopping experience.

Snapdeal for the past some time has been on a startup acquisition spree. Although snapdeal’s startup acquisition began back in June 2010 with the acquisition of collective buying website, but off late it has picked up some speed and snapdeal has in the last one year has acquired a number of  startups.

Here is a list of Snapdeal’s acquisitions:

April 2012: Acquired online sports goods ecommerce platform for amount between INR 50 and 75 Cr.

May 2013: Acquired, an online marketplace for Indian designer and handcrafted products for an undisclosed amount.

April 2014: Acquired social product discovery and a product recommendation platform Doozton for undisclosed amount.

Dec 2014: Acquired Noida based online gift recommendation platform for an undisclosed amount.

Besides these acquisitions, online order management startup Unicommerce which had raised $10 Mn in funding returned the funding raised and is in talks with Snapdeal for a possible acquisition.

In this space, raised $5 Mn led by Tiger Global Management LLC, raised $2 Mn from angel investors. Recently MySmartPrice raised $1 Mn from Accel and Helion and also raised $100,000 from Dutch early-stage fund Bright Ventures.