This acquisition will strengthen and expand Myntra’s mobile technology team. They did not share any financial details.

Native5 was founded in 2012. The company builds tools and services to enable cross platform app development on the cloud. It is led by Kunal Abhishek, Barada Sahu, Shamik Dattaand and Manish Priyadarshi.

Tidbits

• Myntra was founded in 2007 and it is headquartered in Bengaluru.
• Native5 is Myntra’s second technology led acquisition.
• In May 2014, Myntra.com merged with Flipkart to compete against Amazon which entered the Indian market in June 2013.
• The Founders of Myntra are Mukesh Bansal, Ashutosh Lawania and Vineet Saxena.
• Myntra currently has more than 1000 brands with over 1,50,000 products.

GK Question

• In April 2013 Myntra acquired a San Francisco-based technology solution named _____?. Fitiquette.
• Which state government imposed a fine of INR 54 crore on Flipkart, Jabong, Vector e-commerce, and Robemall Apparels, for doing illegal business in the state? Kerala State Government on January 2015. 
• What is the largest e-Commerce company in the World? Amazon
• Rakuten is the e-Commerce company based in which country? Japan