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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]
Bansal was born in Malout, Punjab India. [4] ... Bansal cofounded Snapdeal along with his school friend Kunal Bahl on February 4, 2010. [6] [7] In February 2020, ...
[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. [9]
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]
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]
India has an Internet user base of about 690.0 million as of November 2023, about 40% of the population. [1] Despite being the second-largest user base in world, only behind China (1.079 billion, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54M, 81%), but is growing, adding around 6 million new entrants every ...
The service competes primarily with Amazon India and domestic rival Snapdeal. [ 7 ] [ 8 ] As of FY23, Flipkart held a 48% market share in the Indian e-commerce industry. [ 9 ] Flipkart has a dominant position in the apparel segment, bolstered by its acquisition of Myntra , and was described as being "neck and neck" with Amazon in the sale of ...
Shah co-founded Freecharge along with Sandeep Tandon in August 2010 as a financial services company that allowed users to pay bills as well as recharge mobile, broadband, DTH and metro cards. In 2015, e-commerce company Snapdeal acquired Freecharge for ₹2800 crore (US$400 million) in cash and stock. [4]