Snapdeal could soon become India's numero uno eCommerce player, beating Flipkart! It raked in a neat $3.5 bn in revenues in May 2015
Advertisement
Advertisement
Backed by
While talking to TOI, Kunal Bahl, co-founder of the Delhi-based Snapdeal, said the e-tailer had been highly capital efficient while getting to this number having invested a fraction of the funds compared to other players. "Our focus on building apure-play marketplace versus an inventory-led or hybrid business models like others has played a key role in our rapid growth. Also the fact that we didn't always have access to easy capital, ensured that we built a capital efficient cul ure," he told ET.
Since 2011, when it pivoted rom being a daily deals site, Snapdeal has been operating as a marketplace. Snapdeal has raised $1.1 billion from more than a dozen investors ike
Even as GMV numbers grow, ecommerce players have been beswith excessive cashburn in the range of $20-30 mil ion per month which has led to he need for constant capital in usion from investors. The bulk of the capital for both the ecommerce majors came last year amid a frenetic fund-raising environment which saw $4 billion flow into Indian consumer internet firms. "We've invested some of the funds on acquisitions, although these were done largely in stocks."
Advertisement
The acquisitions will materially enhance buying and selling experiences in our company's ecosystem going forward," Bahl told ET. Snapdeal bought online recharge platform FreeCharge last month for an estimated $400 million along with a string of other acquisitions, 10 in all. Valued at $5 billion, Snapdeal has been aggressively hiring leadership talent within the country and the US, the latest being
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market