60+ million products across 80 categories in its inventory
The website also delivers to the residents of over 6,000 towns and cities
Some of the major acquisitions are Shopo, Rupeepower, Tragetingmantra, etc
Snapdeal is an Indian e-commerce website that was founded by Kunal Bahl and Rohit Bansal in2010. With over 60+ million products across 80 categories in its inventory, Snapdeal is India’s largest online shopping destination. They procure their items from regional, national and international retailers. Their product range encompasses clothes, electronics, beauty products, gadgets, footwear and many more. The website also delivers to the residents of over 6,000 towns and cities.
Snapdeal was first launched as a daily deals platform. It was used by the customers to get the best deals every day for discounts at hotels, movie theatres, etc. However, by 2011, it had transitioned into an e-commerce website. Currently, Snapdeal has over 20 million registered users and it is one of the busiest brands in India today. Also, it is one of the largest funded companies in India with having received total funding of over $1.7 billion. Softbank, Temasek, Blackrock, eBay, etc are some of its top investors. Snapdeal has also acquired many thriving businesses to boost its profile even further. Some of the major acquisitions are Shopo, Rupeepower, Tragetingmantra, etc. Snapdeal’s biggest competitors in today’s times are Flipkart and Amazon. Flipkart was almost acquired by Snapdeal in 2017, however, the deal didn’t go through as the CEO of Snapdeal wanted a fresh start. Snapdeal also sold their acquisition “freecharge” to axis bank in a deal worth Rs 385 crores. This allowed the company to expand even further.
The very popular actor Aamir Khan as the brand ambassador for Snapdeal which helped them market their brand at a larger level. However, they were marred by a controversy in which the actor allegedly made some insensitive remarks about intolerance in India which led to the termination of the actor’s contract. They were also in the midst of another controversy in which their employees approached the labor department when over 600 employees were forced to resign in a year. Delhi government ordered the labor department to investigate the issues. Snapdeal has also proven itself to be community conscious when it took the stellar decision of adopting a remote village in India. The village had no access to potable water and had to walk miles for the same. Snapdeal helped the villagers by installing 15 hand pumps in the village which made their life much easier. To show their gratitude towards the company the villagers renamed their village from Shiv Nagar to Snapdeal.com Nagar.
- Al firm ‘Haptik’ Enables Concierge Service for Samsung - April 22, 2020
- Bus Aggregator ‘Shuttl’ All Know External Funding - April 2, 2020
- EazyDiner and American Express Launches ‘EazyDiner Prime’ - March 30, 2020