One of India’s leading e-commerce websites, SnapDeal, has successfully procured Targeting Mantra, an analyst company which helps in providing marketing automation and personalized solutions for the customers via e-commerce companies. It offers solutions with the help of ‘SaaS’ model which is a software licensing and delivery model. It can be used by customers via a web browser along with using a thin client.
TargetingMantra is a Palo-Alto, US based company which has its headquarters in Gurgaon, Haryana. Established in March 2013, the analytical company focuses on developing products through e-commerce web portals so as to increase customer buying experience in various platforms. The huge step was taken simply because online shopping web portals can convert rates by intuitive product discovery, recommendations as well as channelize various selections.
According to Rohit Bansal, CEO, SnapDeal, Personalisation is a key piece which helps consumers discover and transact in a fast, frictionless and intuitive manner. The TargetingMantra team comes with valuable experience in driving superior customer experience through machine learning.
When spoken to the Founders of TargetingMantra, Saurabh Nangia and Rahul Singh, reverted as being very excited to be a part of SnapDeal family as it is very big brand in India and overseas. The sole motto to join hands with the respective e-commerce website was its customer centric technological approach due to which it has huge end user base. Moreover adding value to shape shopping experience on such platform would simply push forward towards more innovations in personalization space.
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SnapDeal raised approximately $200 millions from the world’s largest pension company Ontario Teachers’ Pension Plan as well as Iron Pillars, a new Venture Capitalist firm. In the latest funding round, the e-commerce web portal’s estimated value was $6.5 billions.
Before the acquisition of Targeting Mantra by Snap Deal, the company raised fund from the financial market as of $1.1 millions in September, 2015 from renowned capitalists such as Nexus Venture Partners, One97 Mobility Fund and other 500 Start Up companies.
On the other note, e-commerce website Snap Deal is rising and shining at a great pace as this is the second in line regarding acquisitions. The company acquired Reduce Data, San Francisco based advertising firm within short span of 8 months. Though the amount has been kept under the sheet, till date.