Yes, Snapdeal is an Indian company. It is an e-commerce company founded in the year 2010, and is headquartered in New Delhi, India. Snapdeal operates as a pure-play value e-commerce marketplace. Launched as a daily deals platform, Snapdeal became a full-fledged online marketplace in the year 2011. The platform essentially targets the value e-commerce segment. Its B2C model facilitates transactions between customers and third-party sellers.
Snapdeal lists a wide range of products across categories, including fashion, beauty and personal care, electronics, home and kitchen, and general merchandise. The company basically focuses on middle-income consumers in Tier-2 and Tier-3 cities across India. Snapdeal is among the top 5 e-commerce stores in India.
| Detail | Info |
| Founded | 2010 |
| Founder | Kunal Bahl, Rohit Bansal |
| Headquarters | New Delhi, India |
| CEO | Kunal Bahl |
| Sector | E-commerce |
Company History
Snapdeal was founded on 4th February 2011 by Kunal Bahl and Rohit Bansal as a daily deals platform offering discounts on local services like restaurants and spas. In the year 2011, Snapdeal became an online marketplace by enabling third-party sellers to list their products on the platform. The company soon acquired some e-commerce platforms like Grabbon.com and esportsbuy.com.
By the year 2013, Snapdeal had become one of the top e-commerce platforms in India alongside Flipkart and Amazon. In the year 2014, Snapdeal entered the digital payments market by acquiring FreeCharge for $400 million. Following a failed deal to merge with Flipkart, Snapdeal launched ‘Snapdeal 2.0’ which was designed to target value e-commerce segment or price-conscious consumers in Tier-2 and Tier-3 cities.
Current Status
Snapdeal currently offers over 60 million products across more than 800 categories, and has a seller network of more than 500,000 registered sellers. The platform serves over 40 million active users and has over 200 million app downloads on Play Store. Snapdeal generates revenues mainly through commissions charged to the sellers on sales. Other sources of revenues include promotional campaigns and targeted advertising.
Snapdeal is presently shipping to more than 6000 cities and towns across India, covering 97% of the pincodes in the country. The company faces competition from Shopsy, Meesho, and Amazon Bazar in the value e-commerce segment.
Future Outlook
Snapdeal is focusing on getting a large share in India’s value retail and lifestyle market. Faced with the criticism of slow technology upgrades, the company is looking to leverage AI tools, upgrade user-friendly interface, include large visuals and take other steps in the technological domain to improve user experience.
Snapdeal is looking to strengthen its position in the value e-commerce market in the coming years through sales events and promotions.