E-commerce major Snapdeal on 11 December 2014 acquired Gift Recommendation Platform Wishpicker. The amount of deal was not disclosed.
This is the company's first acquisition after Japanese telecom and internet giant SoftBank invested 627 million US dollar in the homegrown online marketplace in October 2014.
Overall, this is Snapdeal's fifth acquisition since inception. Snapdeal had earlier acquired Bangalore-based group buying site Grabbon.com (June 2010), esportsbuy.com (April 2012), Shopo.in (May 2013) and Doozton (April 2014).
Wishpicker is an online gift retailer founded by IIT-Delhi graduates Apurv Bansal and Prateek Rathore in 2013. It deals in providing gift ideas from across the internet through an intelligent gift recommendation engine. It uses parameters like relationship with the recipient, age and personality for suggesting gifts.
Wishpicker was already working with multiple e-commerce players such as Flipkart, Myntra, Healthkart, Fernsnpetals, Caratlane etc.
When: 11 December 2014