Snapdeal.com:India’s Largest Online Shopping Marketplace
Snapdeal.com is an online marketplace, headquartered 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.com was started in February 2010 as a daily deals platform inspired by Groupon.com but expanded in September 2011 to become an online marketplace. Snapdeal has grown to become the largest online marketplace in India offering an assortment of 4 million+ products across diverse categories from over 20,000 sellers, shipping to 4,000towns and cities in India.
- Snapdeal then raised a 3rd round of funding worth $50 million from eBay and received participation from existing investors – i.e. Bessemer Venture Partners, Nexus Venture and IndoUS Venture Partners.
- Snapdeal received its 4th round of funding of $133 million on Feb-2014. The 4th round of funding was led by eBay with all the current institutional investors, including Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital all participating.
- Snapdeal received its 5th round of funding of $105 million in May-2014. The 5th round included investments by Blackrock, Temasek Holdings, PremjiInvest and others.The round valued SnapDeal at $1,000,000,000.
- Snapdeal received its 6th round of funding in Oct-2014 from Softbank with investments worth $627 million in fresh capital.This makes SoftBank the largest investor in Snapdeal.
- In June 2010, Snapdeal acquired Bangalore-based group buying site, Grabbon.com.
- In April 2012, Snapdeal acquired esportsbuy.com, an online sports goods retailer based out of Delhi.
- In May 2013, Snapdeal acquired Shopo.in, an online marketplace for Indian handicraft products.
Awards and recognition
- ERetailer of the Year & Best Advertising campaign of the year – Indian eRetail awards 2012 organized by Franchise India in Feb,2012.
- Rated the #1 e-commerce site in India, in terms of traction by Dataquest/Sapient E-commerce Survey 2011.
- Voted amongst the Buziest brands of India in afaqs’s annual buzz-making poll.
- Rated the Cheapest Online Mobile Store for November 2013, in a study conducted by Zoutons.com.
- Winner of Red Herring Asia Awards 2011.
- E-commerce site of the year at WAT awards that took place in Jan 2012, Mumbai.
- Hottest Internet Companies of the year at the premier edition of the ‘Young Turks Awards’ organized by Mercedes Benz and CNBC-TV 18 in New Delhi – Jan,2012.