Myntra acquires Bengaluru-based startup

Fashion e-tailer Myntra today said it has acquired Bengaluru-based Cubeit for an undisclosed sum to focus on content aggregation on mobile. As part of the acquisition, the team at Cubeit has been inducted into Myntra , making it an ‘acqui-hire’ that will further strengthen and expand the technology team, Myntra said in a statement.

No financial details of the deal were disclosed. Cubeit, led by co-founders Sarthak Jain, Nithinkumar Gadiparthi and Prathamesh Juvatkar, was founded in 2014.

“Myntra offers us the opportunity to leverage our skills and further build upon a very strong technological base,” Jain said. Cubeit focuses on building mobile applications that allows users to aggregate content from anywhere, organise, view and share the same from a given location.

“Technology is at the core of our operations and we are looking at leveraging it to further enhance customer experience through social and community interactions on our platforms,” Myntra chief product and technology officer Shamik Sharma said. This is the third technology-led acquisition for Myntra, which is part of e-commerce giant Flipkart.

SOURCE: PTI