Mobile Advertising Platform Adiquity Gets Acquired By Flipkart
Major E-commerce Company Flipkart has acquired the Bangalore-based global mobile network AdIQuity for an unrevealed amount. It is a mobile ad network which allows app developers and mobile publishers earn profits from their mobile inventory.
AdIQuity is the first acquisition for Flipkart in the current year. Last year, it had acquired Myntra which is the largest online fashion industry.
“Flipkart has acquired AdIQuity, a leading mobile ad network company. M&A is a key center for us this year. And given our focus 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. The terms of the acquisition, however, unrevealed.
This acquisition was planned quite some time before. In December from the statement, it is declared that Flipkart was planning to acquire the large stake in Adlquity. Now company believes in acquiring mobile-based companies in a bid to maintain a leadership in the booming market of online industries. Last year, in the month of august it was a planned investment in mobile payments company Ngpay.
According to media reports, AdIQuity will control 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 allow merchants to promote their products on Flipkart.
To acquire global quality mobile traffic and to leverage the opportunities presented in the growing mobile ads space AdIQuity also facilitates ad agencies, ad networks, DSPs and other media buyers.
According to the company’s statement, Brand Story Ads is a native, interactive story format with content images and product guides that allow brands to tell their stories in a crisp and impactful manner. In the initial phase, the campaigns will focus on awareness creation with brand story and category pages. This will be extended to product listings, checkouts, and other areas.
Brands including Yes Bank, L’Oréal, Micromax, Intel, Gillette, Datsun, and Sony have already signed up on the platform to launch their ad campaigns.
The acquisition started at the time when Filpkart was planning to diversify into the fee-based company as same as online promotion and famous brand consulting for vendor partners in a bid to make large profit ahead of a potential public listing. CEO Sachin Bansal is leading this push to advertise which will grow the company to come as online publishers as same as Facebook and google as per the statement of ET yesterday
Bansal is currently hiring a new team for this promotion initiative and is exploring opportunities to be able to personalize and create ads that would be relevant to both customers and advertisers.
AdIQuity also has features like Geo Sense which permits advertisers and marketers to ‘Geo Fence’ a particular location. This feature will be used by sellers on Flipkart to focus probable consumers in a particular location.
Image source: YourStory