Snapdeal is a privately owned Indian firm thought to be the biggest E-Commerce company in New Delhi. Founded in 2010 by Kunal Bahl and Rohit Bansal this firm has gone on to become one of only 260 unicorn companies, revered the world over. A unicorn is a company whose value is estimated to be greater than a billion dollars and Snapdeal smashed that target with a whopping estimated value of 7 billion USD. In fact, Snapdeal made the list back in 2014, proving that once you get to the top of your game, staying there is easy when you know how.
This huge Indian E-Commerce and online marketplace site features some 300,000 sellers with around thirty million products. It is estimated that they reach around 6000 towns and cities in their native India. Headquartered in New Delhi, this is one of those businesses which thrived as the internet increased in popularity, and it continues to do so to this day.
Snapdeal began life as a daily deals program where they dominated 70% of the market. When they moved into the online marketplace sector they immediately encountered more competition than they were used to. That being said Ebay is now one of their top investors, so it seems that the crew over at Snapdeal must have done something right. With additional funding coming to them from Indo-US Venture Partners, Bessemer Venture Partners. The Soft Bank Group, Blackrock and Alibaba Group the £7 billion doesn't suddenly see quite so ostentatious.
Snapdeal have their fingers in many different transactions and have made acquisitions to advance their position. Earlier in its life they acquired Grabbon.com and EsportsBuy, then later Doozton.com and Wishpicker.com. It holds stakes in Smartprix.com, owns Exclusively.in, bought out Gojavas.com and now owns UniCommerce, too. Further acquisitions have been into the area f E-commerce software and development to better hone their main product and tools. A failed merger attempt with Flipkart in 2013 did absolutely nothing to stop the steam train of Snapdeal from rolling on through. They re-branded as Snapdeal 2.0 and continued making money.
With funding from the Softbank Group, Blackrock and the Alibaba Group there seems to be no stopping this wealthy group of online merchants. As long as the internet exists we will need online marketplaces to keep up with demand, and as long as demand exists there will be Snapdeal, offering the best prices from their thousands of suppliers!
List of Services
Snapdeal is basically a huge online marketplace based in India, if you consider it to be the Indian version of Ebay that might help you to discern exactly what it does.
- A daily business deals service
- An online marketplace with nearly 30 million online sellers and all the choice you could ever need.
- Offer diverse categories and lots of choice for towns and cities across India.
- Is available in English.
Although the list may be short that doesn't mean that their service isn't highly successful and booming. What we want to know is how much they will grow now should they expand outside of their home country… because the sky is the limit.
Should you wish to learn more about Snapdeal you can do so by visiting their website, here.