Snapdeal announces the acquisition of app developer Lesgomo Labs
In an effort to further solidify its position in India’s mobile commerce space, Snapdeal has announced its successful acquisition of Letsgomo Labs, a developer of mobile applications. The acquisition may have a major impact on Snapdeal’s future mobile plans. Mobile commerce has become a major focus for Snapdeal recently, with the company taking steps to become completely mobile-centric as a way to effectively engage consumers that are becoming more reliant on smartphones.
Acquisition expected to augment Snapdeal’s mobile commerce interests
Letsgomo Labs develops mobile application and offers mobile services to its clients. The company’s expertise in the mobile space may be put to work in Snapdeal’s future plans for mobile commerce. Letsgomo believes that mobile technology will continue to serve as a driver for growth in the e-commerce space and the company hopes to build new mobile services for Snapdeal that will appeal to the company’s customers and mobile shoppers in general.
75% of Snapdeal’s business now comes from mobile platforms
According to Snapdeal, approximately 75% of its business is now done over mobile platforms. Consumers have become enthralled with the concept of mobile commerce, as it represents a more convenient way to shop for many people. Mobile shopping is having an evolutionary effect on India’s retail space, with a growing number of merchants taking steps to become more accommodating of mobile consumers by providing them with ways to shop for and purchase products with their mobile devices.
Snapdeal continues to show dominance in the mobile commerce market
Snapdeal has been acquiring several other companies over the past year, and these acquisitions have made it the largest mobile commerce company in India. Last month, Snapdeal acquired Martmobi, a company that provides real-time analytics concerning mobile activity as well as several other services. Snapdeal has also been receiving support from other companies outside of India. These companies have a strong interest in mobile commerce, as it represents a major opportunity for retailers that are interested in the digital world.
Snapdeal has acquired MartMobi for an undisclosed amount. The company has been on an acquisition spree in recent years, hoping to compete with other companies in the electronic and mobile commerce spaces. Both Flipkart and Amazon are major competitors to Snapdeal and all three companies are vying for a position in the $3 billion e-commerce industry in India. Recent acquisitions could embolden Snapdeal’s position in the industry, but it will have to continue engaging consumers effectively in order to hold dominance in the sector.