16:29 12th Dec, 2014
Snapdeal Buys Wishpicker For Better Product Recomendations
The deal comes at a time when India's e-commerce players are looking to boost their tech prowess
Snapdeal, one among the top three e-commerce players in India has acquired Wishpicker, a tech company that uses machine learning to improve recommendations on purchases. According to TechCrunch, the financial terms of the deal have not been disclosed, but Wishpicker is the fifth company Snapdeal has acquired so far.
The purchase comes at a time when the competition in the Indian e-commerce space is growing, and Snapdeal, Flipkart and Amazon are expected to account for $4 billion in sales this fiscal year. The industry is expected to quadruple in value over the next five years, going from $10 billion to $43 billion.
Snapdeal made its first acquisition back in 2010, snapping up bulk buying site Grobbon, then sports retailer esportsbuy.com in 2012 and then Shopo.in, a marketplace for handmade items in 2013. Previous to Wishpicker, the company acquired fashion discovery site Dootzon in May this year.
As e-commerce players add more product listings, its of paramount importance that they focus on finetuning their product categories and recommendation engines. Wishpicker in that sense is a big acquisition for Snapdeal in terms of growing its technology base to take on rivals like Amazon and Flipkart.
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