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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]
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 ...
Bansal cofounded Snapdeal along with his school friend Kunal Bahl on February 4, 2010. [ 6 ] [ 7 ] In February 2020, Snapdeal invested in a startup Sanfe that deals in female hygiene products. It also invested in Ola , Bira, Razorpay, Beardo.
[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]
[41] [42] In July 2017, Flipkart made an offer to acquire its main domestic competitor, Snapdeal, for US$700 to 800 million. It was rejected by Snapdeal, which was seeking at least US$1 billion. [43] In August 2018, American retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing Flipkart at around US$20 ...
Kunal Shah is married to Bhavna Shah, [2] who works as a freelance graphic designer. Kunal is known for his active presence on social media platforms, where he often shares insights on various topics including entrepreneurship and consumer behavior.
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]
Cashify (formerly known as ReGlobe) is a recommerce company with headquarters in Gurgaon, India. It was founded in 2009. It operates as an online marketplace where users can sell their used electronic gadgets like mobile phones, tablets, smartwatches, laptops and video game consoles to professional buyers. It also deals in refurbished devices. [1]