Indian e-commerce major Flipkart has acquired Bangalore-based global mobile network AdIQuity for an undisclosed amount. It’s a mobile ad network enabling app developers and mobile publishers earn revenue from their mobile inventory.
AdIQuity also facilitates ad agencies, ad networks, DSPs and other media buyers to acquire global quality mobile traffic and to leverage the opportunities presented in the rapidly growing mobile ads space.
This is the first acquisition for Flipkart this year. Last year, it had acquired Myntra. "Flipkart has acquired AdIQuity, a leading mobile ad network company. 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," said Flipkart in a statement.
Founded by IIT D alumnus Anurag Dod, AdIQuity serves 25 billion ad impressions on a monthly basis for over 200 countries and has 15,000 app developers and publishers using its platform.
The move is in tune with Flipkart’s recent ambition to generate revenue by selling online advertising and brand consulting to its seller base. The company has been focusing on new revenue channels to become profitable before staging IPO and these new initiatives are explored to cut its losses.
According to media reports, AdIQuity will power Flipkart’s external marketing, where brands can use Flipkart data on user behavior to target customers on the AdIQuity platform across publishers. Additionally, AdIquity platform will let merchants promote their products on Flipkart.
AdIQuity has features like Geo Sense which allows advertisers and marketers to 'Geo Fence' a particular location. Geo Sense will be used by sellers on Flipkart to target probable consumers in a particular location. It also has product like AppNow which converts WAP site to a mobile app. The platform uses content on the WAP site and lays it out in a mobile which users can download from an app store.
With this acquisition, Flipkart also hinted its plan of acquiring more companies this year. And it would be interesting to see which verticals are on Flipkart’s radar.