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<ul><li>Founders <keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> and Rohit Bansal have brought back the e-commerce company from the (almost) dead. </li><li><keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> has seen over 50 employees coming back to rejoin the company. </li><li>The e-commerce company which once didn’t have money to survive a month, today has a big new office with 750 employees.</li></ul>In one end of Gurugram, not surrounded by the usual high rise buildings and hustle bustle, in one of the otherwise alone tall buildings, lies Snapdeal’s new office. A swanky new space with the Snapdeal signature red colour almost everywhere, 750 employees find their seats in an open office. The founders Kunal Bahl and Rohit Bansal ditched cabins cabins to sit right amidst their employees. While this is the saga of every startup today, for Snapdeal, it is the story of resurgence. In 2017, Snapdeal, which was actually one of the early e-commerce players in the country, was caught in the grip of increased competition from Amazon and Flipkart. The company lost a huge chunk of its market share and posted a net loss of ₹46.47 billion in 2016-17. Reports say, Snapdeal was barely left with any money to survive, as they struggled to merge with Flipkart. “The uncertainty was costing Snapdeal money, morale, momentum and more. It was clear to us that we were hurtling towards a full-blown crisis,” Bahl wrote in a LinkedIn blog post. Now, they want a do-over as they launched <keyword id="4831590" type="PERSON" weightage="20" keywordseo="Snapdeal-2-0">Snapdeal 2.0</keyword> in July 2017. “Snapdeal 2.0 is about going back to the energy and drive of a start-up culture. Our new office embodies all that - it is home to a nimble and high-energy team,” said an official spokesperson. About 50 employees have returned to Snapdeal in the last one year, which includes one of its chief architects who had gone on to join a foodtech unicorn as the CTO. The company says that the average tenure of an employee in the company is now over 4 years and even has employees who have celebrated a decade with Snapdeal. “This also means that a large part of the company has seen a big splashy headline phase and have seen the tough period of the company and then stuck together and seen how the company came out of that phase. That kind of collective wisdom and that type of galvanisation of culture money can't buy,” said the spokesperson.

Snapdeal's old employees are coming back as company tries to regain its lost glory

<keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> and <keyword id="396598" type="PERSON" weightage="20" keywordseo="Rohit-Bansal">Rohit Bansal</keyword> who started their journey as high school friends succeeded in creating one of the leading online marketplaces popularly known as <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>. 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. Read Also about other Personalities - <a href="https://www.businessinsider.in/interesting-facts-about-ola-founder-bhavish-aggarwal/articleshow/71186840.cms">Ola Founder Bhavish Aggarwal</a> <a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">Facts about Ratan Tata</a> <a href="https://www.businessinsider.in/unknown-facts-about-flipkart-founder-sachin-bansal/articleshow/70494717.cms">Flipkart founder Sachin Bansal</a>

Unknown facts of snapdeal founders Kunal Bahl & Rohit Bansal

\ 
 E-commerce major <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> will shell out an average pay hike of 12-15 percent as it looks to assure employees amid the online marketplace scouting for a potential buyer. 
 
According to sources, the pay revision will be effective from April 1 and will see salaries of employees at the mid and junior-level go up by an average 12-15 percent. 
 
For senior management, the hike will be 9-12 percent, but the company may offer 20-25 percent raise to exceptional performers, they added. 
 
The cash-strapped company is also believed to be distributing nearly 1 percent of its stock to about 150 employees. 
 
Earlier this year, the company's founders had admitted having made mistakes and said they would take a "100 percent cut" in their own salaries. 
 The decision to give such a good pay hike has been taken at a time when Snapdeal's largest investor <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> is believed to be working towards a sale of the e-commerce platform and a final decision is likely to be made in the next few weeks. 
 The top contender in the race is <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, which has recently received a funding of USD 1.4 billion. 
 Softbank is also in talks with <keyword id="4386851" type="UNKNOWN" weightage="20" keywordseo="kalaari-capital-and-nexus-venture-partners">Kalaari Capital and Nexus Venture Partners</keyword>, who have representation on the board of Snapdeal, to reach a consensus on valuation, sources said. 
 Snapdeal's seven-member board includes representation from investors SoftBank, Kalaari Capital and Nexus Venture Partners, as well as co-founders <keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> and <keyword id="396598" type="PERSON" weightage="20" keywordseo="Rohit-Bansal">Rohit Bansal</keyword>. 
 
ALSO READ: <a href="http://www.businessinsider.in/read-what-rohit-bansal-and-kunal-bahl-mailed-snapdeal-employees-amidst-flipkart-acquisition-speculations/articleshow/58108189.cms">Read what Rohit Bansal and Kunal Bahl mailed Snapdeal employees amidst Flipkart acquisition speculations</a>

Snapdeal to dole out up to 15% pay hike amid sell-off buzz

<table class="image-container float_right" width="200"><tr><td><div class="image"></div><a href="http://articles.economictimes.indiatimes.com/2011-04-04/news/29374914_1_discount-coupons-small-retailers-kunal-bahl">Economictimes</a>Snapdeal founder and CEO Kunal Bahl</td></tr></table><a href="http://www.snapdeal.com">Snapdeal</a> is an online marketplace that is only two years old, but it's <a href="http://www.businessinsider.com/indias-largest-e-commerce-site-has-exploded-in-just-18-months-of-existence-2011-11">the highest-trafficked e-commerce site in India</a>. Investors just gave it $50 million in a Series C financing; it has raised more than $100 million total.
<a href="http://techcrunch.com/2013/04/01/ebay-builds-up-its-bric-strategy-leads-50m-investment-in-india-e-commerce-giant-snapdeal/">Amazon and eBay both reportedly wanted a piece</a> of the company, but <keyword id="6357395" type="CITY" weightage="60" keywordseo="eBay">eBay</keyword> was able to nudge out its competitor and lead the round. eBay has aggressive growth plans over the next three years, and it believes a good portion of that growth (12%) will come from BRIC countries (Brazil, Russia India and China). So it's easy to see why they'd want to get a piece of <keyword id="541988" type="COMPANY" weightage="60" keywordseo="SnapDeal">Snapdeal</keyword>.
According to TechCrunch, Snapdeal's gross merchandise value is growing 400% year over year, and it's expected to generate ~ $400 million in sales this year from its 20 million users.
When we spoke with the company in late 2011, it had 10 million members and was growing by 1.5 million members per month.
"Eighty percent of our revenue comes from everyday merchandise, and much of that comes from people interested in and driven by promoted daily deals," <a href="http://www.businessinsider.com/ebay-plans-to-double-its-sales-to-300-billion-in-the-next-3-years-and-take-on-amazon-2013-3">Snapdeal founder and CEO Kunal Bahl</a> told Business Insider then. 
"[Indian customers] have a lot of aspirations to own products. <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword>'s and Walmart's, and Overstock's are already well established, but we have an advantage in the sense that India is a green field of opportunity."Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.

Snapdeal, A 3-Year-Old Startup In India, Had Amazon And eBay Battling To Give It Tens Of Millions Of Dollars

<ul><li><keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> has announced a consolidated revenue of ₹925.3 crore with a 73% jump in revenue. </li><li>The e-commerce platform has also cut its losses by 71%. </li><li>Over 50 employees have returned to join the company, which has seen a turnaround in business since it launched <keyword id="4831590" type="PERSON" weightage="20" keywordseo="Snapdeal-2-0">Snapdeal 2.0</keyword> in July 2017.</li></ul>Indian e-commerce startup Snapdeal said that it has bounced back from its troubles clocking a 73% jump in revenue in the last financial year. As per regulatory documents filed by Snapdeal, its consolidated revenues grew to ₹925.3 crores in 2018-19 as compared to ₹535.9 in 2017-18. The e-commerce platform also reduced its losses to ₹186 crores in FY19 as compared to ₹611 crores in FY18. “Our transacting customers grew 2.2 times and traffic surged 2.3 times to 70 million unique users/month. And all this in a year when the e-commerce companies in India burnt through $2.5 billion in the pursuit of growth,” said <keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword>, Snapdeal’s CEO &amp; Co-founder, in a blog. In 2017, Snapdeal, which was actually one of the early e-commerce players in the country, was caught in the grip of increased competition from Amazon and Flipkart. The company lost a huge chunk of its market share and posted a net loss of ₹4,638 Crores in 2016-17.. Soon after, there were many speculations about the company being in the verge of a shutdown as a merger with Flipkart too didn’t work out. However, the founders Kunal Bahl and <keyword id="396598" type="PERSON" weightage="20" keywordseo="Rohit-Bansal">Rohit Bansal</keyword> decided to turnaround the fate of their business and launched Snapdeal 2.0 in July 2017. “Our strategy is to focus on the needs of the value-conscious buyers in India – they constitute the bulk of our users. They are also the fastest-growing mega segment in Indian e-commerce and will be nearly 400 million strong over the next few years,” Bahl said in the blog. And in the last two years, Snapdeal has gone on to add over 60,000 new seller partners, who have added over 50 million new listings on the platform. Snapdeal’s work culture too has seen a turnaround, with a swanky new office, television sets across the open office where top performers are appreciated. It has also seen its employees return to be a part of its growth story. About 50 employees have returned to Snapdeal in the last one year, which includes one of its chief architects who had gone on to join a foodtech unicorn as the CTO. The company says that the average tenure of an employee in the company is now over 4 years and even has employees who have celebrated a decade with Snapdeal.

Snapdeal’s ache din – says it’s revenue jumped 73% and losses are down to less than a third

In a bid to stand close to its rivals such as <a href="http://www.businessinsider.in/searchresult.cms?query=paytm&amp;sortorder=effectivedate">Paytm</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal</a> is looking to raise money for its digital payment platform <a href="http://www.businessinsider.in/searchresult.cms?query=freecharge&amp;sortorder=effectivedate">FreeCharge</a> and is in talks with many investors including Chinese firms. 
 Jasper Infotech, which handles <keyword id="541988" type="COMPANY" weightage="40" keywordseo="SnapDeal">Snapdeal</keyword>, wants to create a system similar to <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword>, the Chinese e-commerce behemoth. 
 
"We are getting a lot of interest from sovereign funds and some Chinese investors. Chinese investors have seen the Alipay story. They have seen that Alipay has been successful because it is attached to a large commerce platform," Snapdeal CEO Kunal Bahl told ET. 
 As per reports, Snapdeal is looking to raise about $300 million, or Rs 2,000 crore for <keyword id="6377963" type="UNKNOWN" weightage="20" keywordseo="Freecharge">FreeCharge</keyword>, which had an evaluation of around $400 million in cash and stock in April 2015. 
 
"I have told investors, 'If you want to come into our crown jewel, it is going to be at a price'. If you are not willing to pay that price today, no problem. Let's wait for three to six months and let (Free-Charge) continue to execute. Till then, we will finance it,” Bahl told ET. 
 Meanwhile, <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword>, which is backed by <a href="http://www.businessinsider.in/searchresult.cms?query=alibaba&amp;sortorder=effectivedate">Alibaba</a> and valued at $3.4 billion as of September, is much higher than the 30-31 million transactions FreeCharge handles every month. 
 
"FreeCharge is not a three-year journey. It's a commitment of a lifetime for us that we have made to the company and to the business. If we are running Snapdeal for 25 years, we have to run FreeCharge for 25 years also, and hence we want high-quality strategic investors for them as well," Bahl said. 
 
(Image: Thinkstock)

Snapdeal is sharpening focus on FreeCharge to pit it against Paytm

E-commerce major <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>'s CEO <keyword id="219793" type="PERSON" weightage="100" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> and two others have been summoned by a Delhi court on a criminal complaint of an entrepreneur who alleged that his idea of connecting sellers and buyers through an e-platform was unauthorisedly usurped by the firm and its officials, according to news agency <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword>.Additional Sessions Judge R K <keyword id="24920" type="PERSON" weightage="20" keywordseo="Tripathi">Tripathi</keyword> issued notice to Snapdeal CEO Kunal Bahl, COO <keyword id="396598" type="PERSON" weightage="20" keywordseo="Rohit-Bansal">Rohit Bansal</keyword> and its former chief financial officer (CFO) <keyword id="2869424" type="UNKNOWN" weightage="20" keywordseo="Vijay-Ajmera">Vijay Ajmera</keyword> for allegedly cheating entrepreneur Gaurav <keyword id="2615" type="COMPANY" weightage="20" keywordseo="Dua">Dua</keyword>'s concept of "non-inventory holding marketplace model for retail" in the garb of collaborating with him."Heard. Record perused. Issue notice of revision petition to respondents vide all prescribed modes returnable for May 17, 2017," the judge said.Dua had lodged a criminal complaint against the founders and the CFO under sections 420 (cheating), 406 (criminal breach of trust) and 120B (criminal conspiracy) of the IPC, which was dismissed by a trial court earlier. He had then filed a revision petition before sessions court.As per his complaint, Dua, an engineer and entrepreneur, founded portals marketsdelhi.com in 1999 and indianretail.net in 2005 and brought the benefits of digital technology to the retail community.He claimed in his petition that he was the brain behind the non-inventory holding marketplace model for retail in India and alleged that the Snapdeal officials cheated him under the garb of raising funds for his business."Snapdeal founders, who claimed to champion the approach which put them ahead of other e-commerce companies, cheated Dua in the garb of collaboration with him and raising venture funds for his validated business.Instead, "under the garb of collaboration and funding, held extensive discussions over many months but instead duped him by deploying all criminal tactics to part with the insights and workings of his work done over 10 years," the complaint alleged.He claimed that for two years, the <keyword id="6358992" type="ORGANIZATION" weightage="20" keywordseo="Delhi-Police">Delhi Police</keyword> failed to register an FIR on his complaint after which he knocked the door of the court. The trial court, however, dismissed his complaint, after which he filed a revision petition before the present judge.

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Snapdeal's old employees are coming back as company tries to regain its lost glory

Sanchita Dash

Unknown facts of snapdeal founders Kunal Bahl & Rohit Bansal

Team BI India

Snapdeal to dole out up to 15% pay hike amid sell-off buzz

PTI

Snapdeal, A 3-Year-Old Startup In India, Had Amazon And eBay Battling To Give It Tens Of Millions Of Dollars

Alyson Shontell

Snapdeal’s ache din – says it’s revenue jumped 73% and losses are down to less than a third

Sanchita Dash

Snapdeal is sharpening focus on FreeCharge to pit it against Paytm

BI India Bureau

Criminal complaint against Snapdeal CEO Kunal Bahl; summoned by a Delhi court

BI India Bureau

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