Duda announced Wednesday it had acquired Canada-based Snipcart. This startup allows businesses to add shopping carts to their websites.
This acquisition marks Palo Alto's first deal with Dudas. It follows the $50 million Series D round in June by website development platform Dudas that brought its total funding up to $100 million. Itai Sadan, CEO and co-founder of Duda, declined to comment on the purchase amount.
Duda works with SaaS companies and digital agencies. The company has around 1 million paid sites. TechCrunch was told that the acquisition was motivated by Duda's belief in the rise of e-commerce websites due to the global pandemic.
Sadan stated that this was more than a technology acquisition for Duda. It also involved a talented team. Francois Lanthier Nadeau, CEO of Snipcart, is staying put. The companies will be fully integrated in 2022.
Sadan was impressed by the Snipcart team's experience and shared the same values when he first met them.
He said that we share many of our customers, many which are API-first. Snipcart allows customers to create their own front-end if they require more headless commerce. We plan to increase the number of employees and add more features faster, which will be a benefit for their customers.
Statista estimates that the global retail ecommerce market will grow by 50% to $6.3 trillion in 2024. According to Statista, Duda has seen a 265% increase in the number of e-commerce websites built on its platform year over year. Sadan stated that this was why Snipcart was an attractive acquisition to help accelerate and manage its growth which includes more than 17,000 customers.
The companies will work together to offer new capabilities such as payment and membership tools within the Duda platform. Dudas customers often have inventory that they don't want to manage on an e-commerce platform. Snipcart is the solution. It will allow them to take their inventory and make it shoppable online.
Sadan stated that everyone is looking at how to integrate transactions into their web sites and web experiences.
