16:29 12th Dec, 2014
Snapdeal Buys Wishpicker For Better Product Recomendations | TechTree.com
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.
- Bobble AI bullish on growing business via regional content; announces dedicated keyboard in Malayalam
- Acer India launches business PC at Just Rs 9999
- TCL 4K QLED with Hands Free AI TV Pre-booking Coming Soon at Reliance Digital
- Linksys India Launches VELOP MX5300 WIFI 6 Mesh System
- Acer introduces Nitro 5, its first 10th Gen Intel® Core™ Gaming Laptop
- Barco Introduces New Series of Advanced Video Processing and Presentation Control Systems
- NETGEAR Orbi RBK50 Mesh System to Augment Your Home Wi-Fi Network for Improved Work Efficiency
- Motorola announces its new flagship in India with the Fastest, Loudest, Boldest; motorola edge+
- Surface Pro X, Surface Pro 7 and Surface Laptop 3 are now available in India
- Genelec Announces 1235A: Classic Heritage, Cutting Edge Performance