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|Address||Snapdeal, Jasper Infotech Pvt. Ltd., 246, Ist Floor, Phase-III, Okhla Industrial Area, New Delhi-110020, India|
Snapdeal has become a well-known brand in the Indian ecommerce space. While it was initially launched in Feb 2010 as a ‘daily deals’ platform along the lines of Groupon, the founders Kunal Bahl and Rohit Bansal soon saw the value of pivoting to transform their business into an online marketplace instead.
Over the next few years, supported by almost a dozen rounds of fundings, Snapdeal has grown into a powerhouse brand. Softbank is the largest investor in Snapdeal and has participated in multiple series funding. Snapdeal was valued at about $6.5 billion earlier in 2016.
It has become a relatively successful B2C marketplace, with almost 3,00,0000 registered sellers and over 30 million products listed
As part of its growth strategy, Snapdeal has acquired brands like Freecharge, Unicommerce, Gojavas, Wishpicker and Smartprix.
This has enabled it to integrate lot of this new technology into the business instead of having to create it from scratch.
Snapdeal offers a large number of online payment options including net-banking, gift vouchers, credit and debit cards, and its own Freecharge online wallet. One of the unique ways to pay is Swipe on Delivery, where the customer can pay by swiping a physical card on a mobile payment terminal provided by the delivery team.
It also offers a Cash on Delivery, which has helped with market penetration in areas where online transactions are still in an early stage. In a primarily cash driven economy like India, this has been an important decision.
Snapdeal has also placed a lot of emphasis on customer satisfaction since this is a key factor in the expansion of the brand.
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