This is Flipkart’s first acquisition this year and second after last year’s acquisition of online fashion portal Myntra. Regarding the acquisition, Flipkart said, “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.”
AdIQuity was founded by IIT D alumnus Anurag Dod, and initially it served as a local search engine called Guruji.com back in 2006.
AdIQuity enable ad agencies, ad networks, DSPs and other media buyers to generate global quality mobile traffic, and it also allow app developers and mobile publishers earn revenue from their mobile inventory.
Company’s Geo Sense feature allow mobile advertisers to select and target location-specific audience. In 2006, the company raised $7 million from Sequoia Capital and in 2007 it had raised $8 million from Sandstone Capital.