India’s largest online retailer, Flipkart has acquired mobile network AdIQuity for an undisclosed amount. This move will allow Flipkart to venture into the advertisement space and to generate revenue by selling online advertising and brand consulting to its seller base.
AdIQuity is a global mobile ad network enabling app developers and mobile publishers earn revenue from their mobile inventory. AdIQuity also facilitates ad agencies, ad networks, DSPs and other media buyers to acquire global quality mobile traffic and to leverage the opportunities presented in the rapidly growing Mobile Ads space.
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. This is Flipkart’s first acquisition of this year and is line with Flipkart’s ambition to generate revenue by selling online advertising and brand consulting to its seller base.
Adiquity started out in 2006 as a search engine called Guruji.com.In 2008, the company raised $15 million from Sequoia Capital and Sandstone Capital.The company is headquartered in Bangalore and has office in Delhi, Mumbai, Jakarta, Singapore, and Kuala Lumpur.
Adiquity’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, it adds.