Flipkart, a well-known Indian e-commerce giant. Walmart is the biggest stakeholder of Flipkart among Tencent, Tiger Global, Microsoft, and a few more. Flipkart is to take a strategical partnership and acquires a total of 100% stake in an AR firm called Scapic. It gets millions of traffic every day, so it should try to increase the shopping experience every time; Therefore this acquisition.
Scapic, an Augmented Reality start-up, founded in 2017 by Sai Krishna V K and Ajay P V, based in Banglore, India. It is a cloud-based platform that creates and publishes Augmented Reality and 3D content. Scapic is currently serving clients across e-commerce and marketing.
The three-year-old start-up’s platform can create an immersive experience across categories such as fashion, furniture & electronics.
According to ET, Sai Krishna V K and Ajay P V in a joint statement said – “We are deeply excited about the opportunity that is being presented to scale this up further and make millions of shoppers in India experience the potential of AR.”
This year has accelerated online adoption – be it education, communication, or shopping, as people prioritize health and safety. As we make investments that focus on developing and nurturing the retail ecosystem, we are also committed to making our platform easier to navigate and richer for consumers in terms of content and experience,
– Kalyan Krishnamurthy, CEO, Flipkart Group.
Flipkart’s recent acquisitions
This is already the second acquisition this November by Flipkart. Earlier this month, Flipkart acquired a gaming start-up Mech Mocha. In 2019, It acquired a 20% stake in EasyRewardz, a loyalty and reward platform. It also acquired minor stakes in Aditya Birla Fashion and Arvind Youth Brands recently. Let’s wait to see what Flipkart is planning for the next big year 2021.
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