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Snapdeal is an Indian e-commerce company, based in New Delhi, India. It was founded in February 2010 by Kunal Bahl and Rohit Bansal. [3] Snapdeal is one of the top 5 online marketplaces in India. [4] Snapdeal targets the value e-commerce segment, which Bahl estimated to be three times larger than the branded goods market. [5]
On 8 April 2015, Snapdeal acquired Freecharge in what was referred to as the second biggest takeover in the Indian e-commerce sector at the time, after the buy out of Ibibo by rival MakeMyTrip. The deal was for approximately US$400 million in cash and stock. [2] [3] On 27 July 2017, Axis Bank acquired Freecharge for $60 million. [4]
[6] [7] In 2022, the company assumed the group corporate identity of AceVector, which houses multiple businesses such as Snapdeal, Unicommerce, and Stellaro Brands. [ 8 ] He is the Promoter of Unicommerce, a SaaS company in India, which had its IPO in 2024 becoming on the most highly subscribed IPOs of the year.
Rohit Bansal is an Indian entrepreneur, co-founder and COO of e-commerce company Snapdeal. [1] [2] [3] Early life. Bansal was born in Malout, Punjab India. [4]
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In June 2011, Snapdeal installed 15 hand pumps so that villagers would no longer need to walk for miles to fetch drinking water. The hamlet was facing shortage of clean water. [4] To express their gratitude, residents erected a board [5] naming the hamlet "Snapdeal.com Nagar" in addition to Shiv nagar. [6] [7]