E-commerce major Flipkart has acquired Bengaluru-based mobile advertisement company Adiquity for an undisclosed amount. This is the e-tailer’s first acquisition in 2015 and is seen as a great strategic fit for the company.
Backed by Sequoia Capital and Sandstone Capital, AdIquity started out in 2006 as a search engine named Guruji.com. The company is now a mobile ad network that allows app developers and mobile publishers to earn revenue from their mobile inventory. The company also facilitates ad agencies, ad networks, and other media buyers to acquire global quality mobile traffic.
In 2008, Adiquity had raised $15 million from its two investors.
Adiquity’s platform is used by over 15,000 app developers and publishers and reaches across over 200 countries, the company’s website says. The platform has 25 billion ad impressions and 150 million active users on a monthly basis, it adds.
The Bengaluru-headquartered company has offices across five other cities – Delhi, Mumbai, Jakarta, Singapore, and Kuala Lumpur.
Most large e-commerce players in India have been aggressively tapping the inorganic route to expand their operations. In May 2014, Flipkart had made one of the largest acquisitions in the space when it bought fashion e-tailer Myntra for an estimated value of around $350 million.
In its sixth acquisition, Delhi-based online marketplace Snapdeal.com earlier this year acquired Exclusively.com, a site that sells luxury and lifestyle products. Amazon India has also been investing in the inorganic route and a few months back picked a minority stake in gifting card technology provider QwikCilver Solutions.