e-Commerce major Snapdeal has acquired Wishpicker, an online gift retailer founded by IIT-Delhi graduates. This is the fifth acquisition by Snapdeal.
The acquisition amount for Wishpicker, which was founded in 2013 by IITians Prateek Rathore and Apurv Bansal, was not disclosed.
Earlier in 2014, Snapdeal had acquired Doozton.com, a social product discovery technology platform, focused on the lifestyle and fashion categories.
Snapdeal Co-Founder, Rohit Bansal, said as customer buying trends are evolving, intelligent recommendations will be one of the key drivers for business volume for sellers.
This is Snapdeal's first acquisition after Japanese telecom and internet giant SoftBank invested 627 million dollars in the homegrown online marketplace in October.
The company had earlier acquired Shopo.in (May 2013), esportsbuy.com (April 2012) and Bangalore-based group buying site Grabbon.com (June 2010).
With more than 50,000 sellers and 30 million members, Snapdeal delivers products to 5,000 cities and towns in India. The company has received funding from several global investors such as Softbank, Temasek, BlackRock, Premji Invest, eBay, Intel Capital, Ratan Tata and Bessemer Venture Partners, to name a few.