Online fashion retailer Myntra has recently acquired Bengaluru-based Cubeit for an undisclosed amount. Cubeit focuses on building mobile applications that allows users to aggregate content from any given location.
“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 Myntra’s technology team,” said the company in a press statement.
Cubeit is Myntra’s third technology led acquisition. Myntra had earlier acquired Native5, a Bengaluru-based mobile app development platform company in May, 2015 and Fitiquette, a San Francisco-based technology solution in April, 2013.
Cubeit was co-founded by Sarthak Jain, Nithin Kumar Gadiparthi & Prathamesh Juvatkar in 2014.
Myntra, which is aggressively trying to become profitable by this fiscal end has plans to clock in $1 billion gross merchandise value by March 2017.