Snapdeal.com
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| Type of business | Private |
|---|---|
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Type of site
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E-commerce |
| Founded | 2010 |
| Headquarters | New Delhi, India |
| Area served | India |
| Founder(s) |
Kunal Bahl Rohit Bansal |
| Industry | Internet |
| Services | Online shopping |
| Subsidiaries | FreeCharge |
| Website | www |
| Alexa rank | 325 (February 2017[update]) |
| Native client(s) on | iOS, Android, Windows |
Snapdeal is an Indian e-commerce company based in New Delhi, India. The company was started by Kunal Bahl, a Wharton graduate as part of the dual degree M&T Engineering and Business program at Penn, and Rohit Bansal, an alumnus of IIT Delhi in February 2010. Snapdeal currently has 3,00,000 sellers, over 30 million products across 800+ diverse categories from over 125,000 regional, national, and international brands and retailers and a reach of 6,000 towns and cities across the country.
Investors in the company include SoftBank Corp, Ru-Net Holdings, Tybourne Capital, PremjiInvest, Alibaba Group, Temasek Holdings, Bessemer Venture Partners, IndoUS Ventures, Kalaari Capital, Saama Capital, Foxconn Technology Group, Blackrock, eBay, Nexus Ventures, Intel Capital, Ontario Teachers' Pension Plan, Singapore-based investment entity Brother Fortune Apparel and Ratan Tata. Snapdeal acquired FreeCharge for $400 million.
Snapdeal was started on 4 February 2010 as a daily deals platform, but expanded in September 2011 to become an online marketplace. Snapdeal has grown to become one of the largest online marketplace in India offering an assortment of 10 million products across diverse categories from over 100,000 sdfsellers, shipping to more than 5,000 towns and cities in India. In March 2015, Snapdeal brought actor Aamir Khan for the promotion of its website in India.
Snapdeal has received 11 rounds of funding:
In August 2016, rumors surfaced through a VCCircle exclusive article that Snapdeal was considering possibilities of mergers with its bigger rivals Flipkart and Amazon. However, no confirmation has yet been given with Snapdeal vehemently denying the claims.Although there is a possibility of acquisition of Snapdeal by Flipkart, the company may have to deal with the Reserve Bank of India rules on Foreign Exchange to protect the interest of Snapdeal shareholders.
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