If we look at some of the key success stories of entrepreneurs, then the story of Snapdeal should definitely be in the top 10.
So we will start with an overview of the company /
Snapdeal Is an e-commerce company (Indian), which is basically located in Delhi. Snapdeal was started with joint efforts, hard work and dedication of two attempts
Faces behind Snapdeal's success story
History -
This company (Snapdeal) started its operations on February 4, and lastly, it found a major development phase in September 2011 and it became an online market.
Since then, Snapdeal has been growing and has become the largest online marketplace in the country, with more than 1 million vendors having nearly 10 million products. The area covered by the company is too big, 5,000 towns and cities should be accurate.
But when the company hired Mr., it came mainly to the public eye. Amir khan For your ads, which was a big success
initial investment -
Initially, was invested Wani ColaFirm but it did not happen in the first meeting, in fact, the first meeting became very poor. Shortly after, Vani Kola's venture capital firm decided to invest in Snapdeal and realized the earning potential of that company.
In early 2011, the company acquired nearly 12 million funds from Nexus Venture Partners and Indo-US Venture Partners.
After that, in the same year, Snapdeal managed to raise additional 45 million from Bessemer Venture Partners
Snapdeal did not stop and kept on getting many funding in the future.
- 50 million by e-bay
- 133 million e-bay with investors such as Kalari Capital, Nexus Venture Partners
- 105 million from Blackrock, Temasek holdings etc.
Recently, Snapdeal raised an additional $ 627 million from Softbank
Major shift -
After seeing the big success of Alibaba (an online portal), the company's founders Kunal and Rohit decided to move the whole business model. Therefore, a new online market was open.
It takes a lot of intestines to make such decisions, it was clearly a make or break decision at that time. Apart from this, investors were completely shocked because at that time there was only 1 online market designated E-bay.
Snapdeal Success Tour -
In which operation the company has been successful in its operations, it can be estimated with the fact that there are more than 1 million vendors and more than 10 million wide and wide variety of objects.
In addition, the increase and success achieved by the company has increased the number of online shoppers and has also helped in creating a new industry.
Apart from this, King E-Bay of this segment decided to invest in Snapdeal, along with investments, he also brought a lot of experience which eventually proved to be a great asset for the company..
However, due to tough competition from Flipkart, Snapdeal is currently facing many issues ( Story of Flipkart's Success ) And Amazon.
Fusion -
Recently the news of the merger of Snapdeal is going on in the industry due to its declining profit, the merger has been speculated with one of Flipkart or one of Amazon's major rivals. But the officials of Snapdeal denied such pieces of information.
In addition, the reports have shown a signal that Softbank (a major investor in Snapdeal) wants the company to accept mergers with a large Flipkart.
You can also see this Story of Flipkart's Success -
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