Snapdeal Review: Facts & Figures
Snapdeal is the fastest growing e-commerce company in India. It is largely driven by the youth, the average age of the workforce at Snapdeal is 25. It is India's largest online marketplace
features best priced deals on branded products like mobile phones, electronics, computer peripherals, apparels, cosmetics, perfumes, watches, bags, sunglasses, footwear, kitchenware and more.
In 2010, when Kunal Bahl and Rohit Bansal wanted to start their own business, they chose an offline coupons business and named it MoneySaver. 15000 coupons were sold in three months and it was time to take the business to the next level.
It was after they met investor Vani Kola that the venture really took off. Vani Kola is an Indian venture capitalist
who after a successful career in Silicon Valley returned to Bangalore in 2006. She was listed as one of the most powerful women in Indian Business by Fortune India. The first meeting did not go well but after another round
of discussion, Vani Kola’s venture capital
firm decided to invest in Snapdeal. Vani Kola was the VC
at Kalaari Capital
Initially started as an offline business, Sneapdeal went online in 2010. It was a bumpy ride in the first few months. Mistakes were made, but lessons were learnt. It is this kind of hard work and diligent attempt to offer the best to the customers that gave Snapdeal its initial success.
However, the biggest decision of the founders came in November 2011. Inspired by the success of Alibaba.com, Rohit and Kunal wanted to create something on similar lines. The deals business was shut down and an online marketplace
was opened instead.
It was a make or break decision as Snapdeal had a huge market share in the deals business at that time and starting something new was very risky and the move surprised the investors too. At that point of time, eBay was the only marketplace
Companies Acquired by Snapdeal
- Bessemer Venture Partners
- Foxconn Technology Group
- Intel Capital
- Kalaari Capital
- Nexus Venture Partners
- Ratan Tata
- Recruit Holdings
- Saama Capital
Investments by Snapdeal
- Reduce Data
- MartMobi Technologies