Unknown facts of snapdeal founders Kunal Bahl & Rohit Bansal

Kunal Bahl and Rohit Bansal who started their journey as high school friends succeeded in creating one of the leading online marketplaces popularly known as Snapdeal. Rising above the rival companies and proving their winning talent in the ecommerce arena was never an ordinary feat for them. Here are some interesting facts about the founders of Snapdeal that you might not have known.

A decisive move in their success path

In one of the bravest moves they attempted in their life, they desisted accepting a merger deal with Flipkart and turned their focus on a large base of 400 million value-conscious shoppers in India. This tough decision decided their success later.

They related well to the Indian market

Kunal Bahl and Rohit Bansal realized that the ecommerce companies inspired by the western and US model had little relevance to the Indian buyers since a large segment of online shoppers in India always looked for products that suited their moderate earnings. This awareness helped them fine tune their business model and relate well to the Indian market scenario.

They motivated their employees excellently

Kunal and Rohit believed in creating a clear picture of the company’s goal among all the employees. To this end, they constantly motivated their workforce in several ways time and again. Kunal said, “In our company, if you wake up any of our team members at 3 A.M. at night from their sleep and ask them ‘what are the goals of Snapdeal?’ They wouldn’t even hesitate to answer you with our top three quantitative goals. This understanding cascades down from Rohit and me to everyone else in the company.”

They own over 16% stake in the company

Kunal Bansal and Rohit Bansal together own over 16% stake in the firm. Their journey in the online market place was strenuous in raising nearly $2 billion in funds for their capital. In fact the documents show that the share of Bansal who is the chief operating officer is lower than 2.44%.

They control their company lesser than their peers

While PayTm founder Vijay Sharma controls 20% of the payments and Flipkart co-founders Sachin Bansal and Binny Bansal own about 15% of their company together, Snapdeal co-founders app-ear to control their company less than their peers.

They started Snapdeal as a daily deal website

They started Snapdeal in 2010 only as a daily deal website focusing on deals and coupons for restaurants, travel, shopping, fitness and beauty products. Eventually it turned into an online store in September 2011.

They created a town in their company’s name

Their Indian base is strategically located in a village near Muzaffarnagar district of Uttar Pradesh. The village Shiv Namager was changed into Snapdeal. The founders of Snapdeal provided a long list of amenities for the village to improve the quality of their lives.

They reached out to a broad customer base

Snapdeal has over 20 million registered users and over 200 million products brought in by more than 5 lakh sellers. Snapdeal delivers its products in more than 5000 towns and cities in the country.

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