Flipkart has announced its first acquisition of 2015, a global mobile ad network called AdIQuity for an undisclosed sum.
In an effort to reach out to customers globally, Flipkart has concentrated a lot on online advertising recently. It has acquired the mobile ad network, firmly believing in the positive impact it will have on Flipkart’s revenues.
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 issued.
AdIQuity, started in 2006 as a search engine has changed image to be an advertising solution provider. Its advertising solutions include geographically targeted ads, video ads and interactive ads. The company has 15,000 app developers and ad publishers on board and also boasts of delivering 15 billion ad impressions every month to over 200 countries.
Flipkart has put its weight behind the ad network to help it snatch the lion’s share in an ever-changing, fast paced online retail competition. There are new competitors with super-speciality in specific areas emerging everyday. They also price products competitively. This has opened up the competition for catching viewers’ attention and imagination, turning them into customers.
After the big acquisition of Myntra last year to beef up its fashion segment, Flipkart’s first acquisition this year shows that it is getting ready, possibly, for a public offering. It may go for the offering sometime soon but re-iterated that there will be more big purchases before going on floor.