- Indian e-com major Flipkart has acquired Bangalore-based ad network AdIQuity
- AdIQuity had raised $15 million funding from Sequoia Capital and Sandstone Capital in 2008
- Flipkart has acquired a number of companies including fashion apparels e-tailer Myntra in May last year
India’s largest home-grown e-commerce company Flipkart has acquired Bangalore-headquartered AdIQuity Technologies, a mobile ad optimisation platform for app developers and mobile publishers. The transaction details are not disclosed.
A Flipkart spokesperson told e27 in an e-mailed response: “Flipkart has acquired AdIQuity. M&A is a key focus for us this year. And given our concentration on mobile, companies that have made a mark in this space will be on our radar. AdIQuity has a history of mobile innovations, extremely valuable experience in the ad space and a talented tech team — all of which are a great strategic fit for Flipkart.”
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Founded in 2006 by Anurag Dod, AdIQuity (formerly Guruji.com) is a mobile ads optimisation platform that generates monetary returns for publishers through real-time optimisation applied on global ad inventory sourced from ad network partners. AdIQuity also helps ad agencies, ad networks and other media buyers acquire global quality mobile traffic and leverage opportunities in the mobile ads space.
The firm claims that over 15,000 app publishers and developers are using its platform. It has 150 million active users and 20 billion ad impressions per month.
AdIQuity had raised $15 million funding from Sequoia Capital and Sandstone Capital in 2008. Besides Bangalore, the firm also has offices in Singapore, Delhi, Mumbai, Jakarta and Kuala Lumpur.
Flipkart is one of the heavily-funded e-commerce companies in India. In December last year, the firm raised US$700 million in funding from UK-based investment management firm Baillie Gifford, US-based VC fund Greenoaks Capital, Steadview Capital, T Rowe Price Associates, and Qatar Investment Authority, and others. Previously, it had secured US$1 billion in funding co-led by Tiger Global and Naspers Group.
In May last year, Flipkart had acquired fashion apparels e-tailer Myntra for US$300 million.
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