Snapdeal

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Snapdeal
Official Snapdeal Logo.png
Type online marketplace
Founded 2010 (2010)
Headquarters New Delhi, India
Area served India
Founder(s)
  • Kunal Bahl
  • Rohit Bansal
Key people Kunal Bahl & Rohit Bansal
Industry Internet, Online retailing
Services Electronic commerce
Employees 2000+
Slogan(s) Bachatey Raho!
Website www.snapdeal.com
Alexa rank Increase 291; 15: India (April 2014)[1]
Type of site Online shopping
Advertising Yes
Users 20+ Million Users
Available in English,Tamil,Hindi
Launched 2010; 4 years ago (2010)
Current status Online

Snapdeal.com is an online marketplace, headquartered in New Delhi, India. The company was started by Kunal Bahl, a Wharton graduate, and Rohit Bansal, an alumnus of IIT Delhi in February 2010.

History[edit]

Snapdeal.com was started in February 2010 as a daily deals platform but expanded in September 2011 to become an e-commerce company via a marketplace model.[2] With 20 million registered users, Snapdeal is one of the first and largest online marketplaces in India[3] offering an assortment of 4 million+ products across diverse categories from over 20,000 sellers, shipping to 4,000[4] towns and cities in India.

mCommerce[edit]

Snapdeal has recently launched its best mobile app[5] for iOS users. The app, already available for Windows and Android users, provides users access to Snapdeal's various product categories.

Funding[edit]

Snapdeal has received 4 rounds of funding totaling to $240 million.

  • Round 1: In January 2011, Snapdeal received a funding of $12 million from Nexus Venture Partners and Indo-US Venture Partners.
  • Round 2: In July 2011, the company raised a further $45 million from Bessemer Venture Partners, along with existing investors Nexus Venture Partners and Indo-US Venture Partners.
  • Round 3: Snapdeal then raised a 3rd round of funding worth $50 million from eBay and received participation from existing investors – i.e. Bessemer Venture Partners, Nexus Venture and IndoUS Venture Partners.[6]
  • Round 4: Snapdeal received its 4th round of funding of $133 million on Feb-2014. The 4th round of funding was led by Ebay with all the current institutional investors, including Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital all participating.[7]

Acquisitions[edit]

  • In June 2010, Snapdeal acquired Bangalore-based group buying site, Grabbon.com.[8]
  • In April 2012, Snapdeal acquired esportsbuy.com, an online sports goods retailer based out of Delhi.[9][10]
  • In May 2013, Snapdeal acquired Shopo.in, an online marketplace for Indian handicraft products.[11]

Business results[edit]

In the year 2012-13 Snapdeal had said that it expects to garner revenues of about INR6 billion (US$100 million). Betting big on the growth of mobile commerce, Kunal Bahl, the CEO of Snapdeal, said at present 15-20 per cent of the sales on Snapdeal comes through m-commerce. Snapdeal.com expects the total sale of products traded on its platform to cross INR20 billion (US$330 million) in the fiscal year 2013-14 helped by its robust growth in the past two years and the growing popularity of e-commerce in India.[12]

Partnership with eBay[edit]

In the 3rd round of funding of $50 million eBay came out as the largest investor in Snapdeal.[13] The investment also includes a commercial partnership under which eBay will get access to Snapdeal’s 20 million registered users, logistics software and distribution network.[14] Snapdeal co-founder Kunal Bahl told the medianama that Snapdeal will offer a limited number of products on eBay India and eBay too will list its merchandise on Snapdeal, following the partnership.[15]

In its 4th round of funding Snapdeal raised fresh capital of $134 million with eBay Inc, leading the round. With this round eBay has increased its stake in Snapdeal, becoming its largest investor. Snapdeal Co-founder and CEO Kunal Bahl said that eBay's second round of investment in Snapdeal as an endorsement of strategy and progress Snapdeal has made in year.[16]

Awards and recognition[edit]

  • eRetailer of the Year & Best Advertising campaign of the year - Indian eRetail awards 2012 organized by Franchise India in Feb,2012.[17]
  • eRetailer of the Year & Best Advertising campaign of the year - Indian eRetail awards 2012 organized by Franchise India in Feb,2012.[18]
  • Winner of Red Herring Asia Awards 2011.[19]
  • E-commerce site of the year at WAT awards that took place in Jan 2012, Mumbai.[20]
  • Hottest Internet Companies of the year at the premier edition of the 'Young Turks Awards' organized by Mercedes Benz and CNBC-TV 18 in New Delhi - Jan,2012.[21]
  • Rated the #1 e-commerce site in India, in terms of traction by Dataquest/Sapient E-commerce Survey 2011.[22]
  • Voted amongst the Buziest brands of India in afaqs's annual buzz-making poll.[23]
  • Rated the Cheapest Online Mobile Store for November 2013, in a study conducted by Zoutons.com. [24]
  • Silver for the Best Website – Service, at the Indian Digital Media Awards 2011, organized by the Exchange 4 Media group - June 2011.

References[edit]

  1. ^ "snapdeal site info Site Info". Alexa Internet. Retrieved 2012-02-02. 
  2. ^ http://techcircle.vccircle.com/2012/11/15/we-should-do-a-billion-dollar-in-gross-merchandise-value-by-2015-snapdeals-kunal-bahl/
  3. ^ http://www.firstpost.com/business/interview-marketplace-model-works-in-india-says-snapdeals-kunal-bahl-647297.html
  4. ^ http://www.business-standard.com/article/companies/penetration-logistics-drive-snapdeal-s-push-113092000034_1.html
  5. ^ http://www.thinkdigit.com/Apps/Snapdeal-launches-app-for-iPhone-users_18095.html
  6. ^ http://www.nextbigwhat.com/ebay-invests-in-snapdeal-297/
  7. ^ http://economictimes.indiatimes.com/articleshow/31060409.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
  8. ^ June 29, 2010 (June 29, 2010-2012). "Jasper announces acquisition of Grabbon". The Financial Express. 
  9. ^ April 4, 2012 (April 4, 2012). "Snapdeal acquires Esportsbuy.com". Economic Times. 
  10. ^ April 4, 2012 (April 4, 2012). "Snapdeal buys Esportsbuy.com". The Hindu Business Line. 
  11. ^ June 1, 2013 (June 1, 2013). "Snapdeal acquires Shopo.in". Times of India. 
  12. ^ http://articles.economictimes.indiatimes.com/2013-03-31/news/38163357_1_snapdeal-ceo-kunal-bahl-internet-and-mobile-association
  13. ^ http://timesofindia.indiatimes.com/tech/tech-news/internet/Snapdeal-raises-50-million-eBay-becomes-lead-investor/articleshow/20456077.cms
  14. ^ http://www.forbes.com/sites/greatspeculations/2013/06/14/why-is-ebay-investing-50-million-in-indian-startup-snapdeal/
  15. ^ http://www.medianama.com/2013/06/223-e-commerce-digest-flyte-shuttering-ebay-snapdeal-deal-homeshop18-sales/
  16. ^ http://economictimes.indiatimes.com/articleshow/31060409.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
  17. ^ Saturday, February 25, 2012 (February 25, 2012). "Snapdeal.com awarded eRetailer of the year; Also wins Best Advertising campaign of the year award". India PR Wire. 
  18. ^ Saturday, February 25, 2012 (February 25, 2012). "Snapdeal.com awarded eRetailer of the year; Also wins Best Advertising campaign of the year award". India PR Wire. 
  19. ^ "2011 RED HERRING TOP 100 ASIA". RED HERRING. 
  20. ^ January 21, 2012 (January 21, 2012). "And The Winners Of WAT Awards 2012 Are……Congratulations To All!". WAT Blog.com. 
  21. ^ January 11, 2012 (January 11, 2012). "CNBC-TV18 Young Turks Awards Premier Edition". Dish Tracking. 
  22. ^ Tuesday, May 10, 2011 (May 10, 2011). "Digital Marketing: Snapdeal―An Entrepreneurial Saga". Dataquest. 
  23. ^ February 27, 2012 (February 27, 2012). "7th Edition of India's Buzziest Brands". Afaqs. 
  24. ^ Tuesday, November 26, 2013 (November 26, 2013). "Comparative Study: Mobile Prices Indian E-Commerce Stores November 2013". Zoutons.com. 

External links[edit]