Snapdeal snaps up TargetingMantra for undisclosed sum

Snapdeal.com, India's second-largest e-commerce firm, has acquired TargetingMantra (Insightful Pvt Ltd), a Gurugram-based marketing and personalisation services company, for an undisclosed amount.

''At Snapdeal, we are always on the lookout for talented teams, who come with complementing tech skills, which can further enhance the experience for our customers,'' said Rohit Bansal, co-founder of Snapdeal.

''The Targeting Mantra team comes with valuable experience in driving superior customer experience through machine learning.''

The companies did not disclose the financial details of the transaction. The TargetingMantra's team will help in building the customer experience solutions that will personalise shopping experiences for customers.

Founded in March 2013 by Saurabh Nangia and Rahul Singh, TargetingMantra specialises in building products for enhancing customer buying experience, increasing conversion rates through intuitive product discovery, recommendations and channel selection.

Snapdeal was founded in 2010 by Kunal Bahl and Rohit Bansal as a deals site, and has since has become the biggest local rival to Flipkart.

It raised $200 million from the Ontario Teachers' Pension Plan and others in February and with this round of investment the company's valuation has risen to $6.5 billion.