Flipkart has acquired mobile ad network firm AdIQuity for an undisclosed sum. The acquisition might help the e-commerce giant to venture into advertising.
AdIQuity initially started with a local search engine Guruji.com back in 2006 and is headquartered in Bangalore. AdIQuity helps ad agencies, ad networks, demand-side platforms (DSP), and other media buyers to acquire global quality mobile traffic and cash in on new revenue opportunities opening up. It’s platform is used by over 15,000 app developers and publishers and reaches across over 200 countries, the company’s website says. The platform has 25 billion ad impressions and 150 million active users on a monthly basis.
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. This is Flipkart’s first acquisition for the year 2015. Last year, Flipkart acquired Myntra for more than $300 million in May. A report last month stated that the homegrown e-commerce firm is eyeing a funding worth $1.7 billion in coming months.