Story of Snapdeal - Company Profile | Business Model | Valuation | Growth

Rishabh Rathi Rishabh Rathi Anik Banerjee Anik Banerjee
Jan 14, 2022 16 min read
Story of Snapdeal - Company Profile | Business Model | Valuation | Growth

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Snapdeal.

How easy our lives have been ever since e-commerce portals came into action! Snapdeal is one such platform that makes online shopping a boom with its exclusive deals, coupons, and discounts for consumers. Founded by Kunal Bahl and Rohit Bansal in February 2010, Snapdeal is an Indian e-commerce company based out of New Delhi. Among the surrounding e-commerce platforms in India, Snapdeal has managed to carve its own niche with its impressive range of discounts and product categories.

Here's learning more about Snapdeal Latest News, Founders and Team, Business Model, Company Profile, Funding, Valuation, Acquisitions, Competitors, Revenue Model and Growth in the article ahead.

Snapdeal - Company Highlights

Startup Name Snapdeal
Headquarters Gurgaon, India
Sector E-commerce
Founders Kunal Bahl, Rohit Bansal
Founded 2010
Valuation $800 mn+ (November 2021)
Revenue $110.84 Million (around Rs 846.4 crores in FY20)
Total Funding $1.8 billion (November 2021)
Parent Organization Jasper Infotech Private Limited

Snapdeal - Latest News

January 13, 2021 - Snapdeal is all set to launch co-branded RuPay credit cards in partnership with Bank of Baroda Financial and NPCI. These new credit cards will be featuring contactless payments and will be available for the users by March 2022.

December 21, 2021 - Snapdeal files DRHP with SEBI to raise a fresh issue of equity shares worth up to Rs 1,250 crores and an offer for sale (OFS) of up to 30.77 mn equity shares via its IPO.

to raise a fresh issue of equity shares worth Rs 1,250 crore with the help of fresh issue

December 9, 2021 - Snapdeal appoints retail veteran Priyaranjan Kumar as its VP and Business Head.

December 8, 2021 - Snapdeal has turned into a public company ahead of its domestic public listing and with it, the e-commerce marketplace has been converted from Snapdeal Private Limited to Snapdeal Limited, which the shareholders of the company have approved of. According to the reports the startup has proposed to issue fresh equity shares worth up to Rs 1,250 crore for its upcoming IPO. This offer may include an additional offer-for-sale portion where some of its shareholders might be selling their shares. The main shareholders of Snapdeal, however, are not prepared to sell their shares.

December 4, 2021 - Snapdeal is going for a $250 Mn IPO at a $1.5 Bn valuation early next year 2022.

December 3, 2021 - Ahead of going public and filing it's Draft Red Herring Prospectus (DRHP), Snapdeal issues 394 mn bonus equity shares for 61 of its shareholders. These shares are allotted in the ratio of 159:1.

December 1, 2021 - Snapdeal joins made-in-India social networking platform Koo to connect with their userbase in the language of their choice.  

November 1, 2021 - Snapdeal, which is looking to launch its IPO soon, has decided to add Anisha Motwani and Ullas Kamath as independent directors to the firm's Board of Directors.

Snapdeal - About and How it Works
Snapdeal - Target Market Size
Snapdeal - Founders and Team
Snapdeal - Owner/Parent organisation
Snapdeal - Mission and Vision
Snapdeal - Startup Story | How was Snapdeal started?
Snapdeal - Startup Launch
Snapdeal - Business Model and Revenue Model
Snapdeal - Name, Tagline and Logo
Snapdeal - Competitors
Snapdeal - Funding and Investors
Snapdeal - Acquisitions
Snapdeal - Partnerships
Snapdeal - Growth and Revenue
Snapdeal - Startup Challenges
Snapdeal - FAQs

Snapdeal - About and How it Works

Billed as India's largest online marketplace, Snapdeal has a wide assortment of over 15 million products that are available for quick delivery in places around the country. Founded in 2010, Snapdeal aims to create the most trustworthy and frictionless e-commerce ecosystem that creates life-changing experiences for both the sellers and the buyers of the country. Snapdeal has a product range of over 15 million that are divided neatly into 800+ categories from over 125,000 regional, national, and international brands and retailers.

As the trend of online shopping has seen rapid growth, it made e-commerce websites like Snapdeal as familiar as household names. Fast deliveries even to the remote corners of the country, lightning deals, and exclusive offers and discounts that make products available at never before prices to its customers are a few things that have helped Snapdeal climb up the ladder of the e-commerce ecosystem.

Shopping online, particularly at Snapdeal, is a child’s play. All you need is a mobile phone or laptop or tablet with an internet connection to get started. You simply need to log in on and drop down the wide range of products across categories. Once you have zeroed down to your favorite products, you can simply place the orders by filling in the details and the products will be delivered right to your doorstep.

Thanks to the easy-to-understand, flexible policies and SD Advisors to help the sellers at each step, anyone from manufacturers to wholesalers and retailers, everyone can now sell on Snapdeal.

The customers can shop their favorite products at Snapdeal even on the go with the help of the Snapdeal App. Available for both Android and Apple users, the Snapdeal app is quick, user-friendly, and enables shoppers to buy products in a breeze. Furthermore, Snapdeal also helps the users avail of the timely notification facilities that are sent on their phones/tablets so that they don't miss out on the amazing deals and offers that the website brings.

Snapdeal - Target Market Size

The gigantic size of the eCommerce market was last valued at $9.09 trillion in 2019 and is expected to grow at a CAGR of 14.7% during the period between 2020-2027. The Indian market is also not too far. Growing at an exponential rate, the Indian e-commerce market was valued at around $22 bn in 2018 and was estimated to be reaching $200 bn by 2027.

“Everyone talks about e-commerce is penetrating to Tier II and III cities. In my mind, that was so 2018. We’re talking Tier 9, 10, 15 and 20 now,” says Kunal Bahl, Co-Founder, Snapdeal

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Snapdeal - Founders and Team

Kunal Bahl and Rohit Bansal are the founders of Snapdeal.

Founders of Snapdeal, owner of snapdeal
Founders of Snapdeal

They started as high school friends and then went on to become business partners when they launched Snapdeal. Believe it or not, together, this duo walked away from a merger deal offered by Flipkart and envisioned and adopted an evaluated focus on the 400 million value-conscious Indian consumers.

Kunal Bahl

Kunal is the Co-founder and CEO of Snapdeal. Bahl was a student of the University of Pennysylvania, from where he completed a degree in Systems Engineering. He was also an alumnus of The Wharton School where he studied Marketing and Operations Strategy. Bahl was also there in the Jerome Fischer M&T Program. In his professional career Kunal started as an Independent Director of Piraal Enterprises Limited before co-founding Snapdeal in 2010. Bahl also co-founded Titan Capital in 2011. Thus, Kunal can be summed up as an investor and entrepreneur who aims to create Impact through entrepreneurship.    

Rohit Bansal

Rohit Bansal is the Co-founder of Snapdeal. Bansal has a BTech. and an MTech. degree in Computer Science from IIT Delhi, after completing which Rohit co-founded Snapdeal with Kunal. Rohit Bansal is also an investor at Titan Capital. Bansal is recognized for his impressive skills in Team Management and Business Development.

Some other Snapdeal executives who hold key leadership positions include:  

  • Vikas Bhasin: Chief Financial Officer & Head of Business
  • Mohit Sethi: Associate Vice President - Product Management at Snapdeal.
  • Mayank Jain: Chief Product Officer & Head of Marketing at Snapdeal
  • Pravin Kutty: Head - Vice President and Head Human Resource

The total employee strength of the company has been reported to be around 800 in 2020.

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Snapdeal - Owner/Parent organisation

Jasper Infotech Private Limited is the owner/parent organization of Snapdeal headquartered in Delhi. It runs the e-commerce marketplace

Jasper operates as a holding company. The company, through its subsidiaries, provides marketing and e-commerce services, such as offering discount vouchers at restaurants, movies, shopping, health packages, lifestyle products, travel, and entertainment.

Snapdeal - Mission and Vision

The vision and mission of Snapdeal is to create "India's most reliable and frictionless commerce ecosystem that creates life-changing experiences for buyers and sellers."

Snapdeal - Startup Story | How was Snapdeal started?

Back in 2010, when the founders, Kunal Bahl and Rohit Bansal wanted to start their venture, they came up with an offline couponing business, which was named MoneySaver. This company sold around 15000 coupons in three months and that’s exactly when it was time to notch this business to a level up. And hence, Snapdeal was founded on February 4, 2010.

When it launched, it was primarily a daily deals platform, and then later in 2011, it expanded to become an online marketplace. Since then, Snapdeal has grown to become one of the largest online marketplaces in India.

Snapdeal - Startup Launch

"After the launch, it was kind of a bumpy ride at first. Mistakes were made, but lessons were learned. It is this kind of hard work and diligent attempt to offer the best to the customers that gave Snapdeal its initial success.”, said Kunal Bahl, founder and CEO of Snapdeal.

The first big decision of this founder duo came in 2011, when inspired by the success of Alibaba, they wanted to create something on similar lines. The founders of Snapdeal initally decided on a couponing startup and planned to name it Groupons. However, this idea of a startup solely focused on coupons was slowly dissolved and gave way to an e-commerce company, the USP of  which, is interesting deals and gigantic discounts.

Hence, they forfeited the current idea of a deals platform and went all in creating Snapdeal as one of the top online shopping spaces in the country. Clearly, for the founders, it was a make-or-break decision.

So ideally, this was a decision that was not for the short term and was taken keeping a very long-term picture in mind. It took some convincing for Rohit Bahl to gain the nod on the board and that’s when the present form of Snapdeal that we use and see today in the form of an e-commerce portal took shape.

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Snapdeal - Business Model and Revenue Model

Snapdeal operates the digital B2C (Business to customer) marketplace, which allows third-party sellers to sell their products on the website directly to customers. The company operates a portfolio business model. Snapdeal, at its core, operates a matchmaking business model, where it connects online sellers directly to online buyers.

It also offers complimentary products such as delivery and logistical support to businesses to help encourage the use of its matchmaking platform.

Recently, Snapdeal has made a change to its business model. As updated on July 21, 2021, the ecommerce company has flipped its business model and started to target audiences that are value-conscious. The company will no longer sell high-end brands but will target the audiences who believe in getting value out of the affordable range of products.

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Snapdeal usually comes up with a new tagline every year just before the festive season kicks in. In 2015, it hired Bollywood actor Aamir Khan to reposition and promote the brand, with the tagline Dil Ki Deal (a deal that tugs at your heartstrings). In 2014, Snapdeal pushed the message of discounts and savings with Bachaate Raho (keep saving).

Snapdeal logo

Snapdeal, run by Jasper Infotech Pvt. Ltd has unveiled a new logo and tagline, Unbox Zindagi (or Unbox Life), as it seeks to position itself differently in the hyper-competitive e-commerce business.

As part of the makeover, the logo will now be in vermello (a shade of red) instead of the existing blue and red combination.

Snapdeal - Competitors

Snapdeal directly competes with:

  • Amazon
  • Flipkart
  • Myntra
  • Shopclues
  • Club Factory and many such companies have gone on to take a great market standing in the online shopping sphere.

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Snapdeal - Funding and Investors

Snapdeal has raised a total of $1.8 billion in funding over 14 rounds. Here is a list of all the funding rounds of Snapdeal:

Date Stage Amount Investors
July 23, 2019 Venture Round - Anand Piramal
May 29, 2017 Venture Round $14.61 million Nexus Venture Partners, Kunal Bahl, Rohit Bansal
August 26, 2016 Secondary Market $21 million Clouse SA
February 14, 2016 Private Equity $200 million Ontario Teachers' Pension Plan, Iron Pillar, Brother Fortune Apparel
January 1, 2016 Series J - -
August 18, 2015 Private Equity $500 million Alibaba Group, Foxconn Technology Group, SoftBank Telecom Corp
October 27, 2014 Private Equity $627 million SoftBank Telecom Corp
August 27, 2014 Venture Round - Ratan Tata
May 20, 2014 Series E $100 million BlackRock, Myriad
February 26, 2014 Series D $133.7 million eBay
August 2013 Venture Round $75 million SoftBank Capital
April 2013 Series C $50 million eBay, Recruit Holdings, Intel Capital, ru-Net, Saama Capital
September 2011 Series B $40 million Bessemer Venture Partners, IndoUS Venture Partners, Nexus Venture Partners
January 2011 Series A $12 million IndoUS Venture Partners, Nexus Venture Partners

Snapdeal has partnered with several global investors such as SoftBank, BlackRock, Temasek, Foxconn, Alibaba, eBay Inc., Premji Invest, Intel Capital, Bessemer Venture Partners, Mr. Ratan Tata, among others.

Snapdeal is to go for an IPO soon. It has already filed an IPO with the market regulator SEBI. This upcoming IPO would contain a mix of fresh issues of equity shares worth up to Rs 1,250 crore and an offer for sale of up to 30.77 million equity shares by the existing shareholders, including Sequoia Capital, Madison India, Foxconn, Softbank, and more, as per the reports dated December 21, 2021.

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Snapdeal - Acquisitions

Following are the details of Acquisitions made by Snapdeal over the years.

Acquired Date
Grabbon June 2010
Esportsbuy April 2012
Shopo May 2013
Doozton April 2014
Wishpicker December 2014
Exclusively Feb 2015
FreeCharge April 2015
Unicommerce May 2015
RupeePower May 2015
MartMobi Technologies May 2015
Fashiate August 2015
Reduce Data September 2015
TargetingMantra May 2016
GoJavas July 2016

  • In June 2010, Snapdeal acquired, a Bengaluru-based group buying website, for an undisclosed amount.
  • In April 2012, it was a Delhi-based online sports goods retailer known as, which was acquired by Snapdeal.
  • In May 2013,, which is an online marketplace for Indian handicraft products was acquired by Snapdeal.
  • In April 2014, SnapDeal acquired for an undisclosed amount. It was a fashion product discovery technology platform
  • In December 2014, which was a tech platform that uses machine learning to deliver recommendations for gift purchases was acquired by Snapdeal for an undisclosed amount.
  • And then came the year of acquisitions for Snapdeal. It made the majority of these in 2015. In January, Snapdeal acquired a stake in the product comparison website, This was followed by the acquisition of luxury fashion products discovery site, In March, this e-commerce portal acquired a 20% stake in logistics service company And that was not it, two more acquisitions in the same month that were made by Snapdeal were, an e-commerce management software and fulfillment solution provider, and RupeePower, a digital platform for financial transactions.
  • In April 2015, was acquired by Snapdeal. Reduce Data, a Programmatic display advertising platform was acquired by the company in September 2015.
  • In May 2016, Targeting Mantra was acquired by Snapdeal for an undisclosed amount.
  • And its most recent acquisition was in July 2016, when Snapdeal acquired GoJavas with a 49% stake in the firm.

Eyeing its initial IPO, Snapdeal increased its ESOP pool by 151%. The shareholders of the company have already passed a resolution to increase the Employee Stock Option Scheme 2016 to 5,00,000 from 1,98,890. Furthermore, they have also filed that the added 3,01,110 ESOP options will be exercisable into equity shares of INR 1 each. Besides, the eCommerce giant has also appointed Kaushik Dutta (Director, Thought Arbitrage Research Institute) as an independent director, according to the SEBI listing regulations.

The company has allotted nearly 394 mn bonus equity shares to 61 of its shareholders, as per the reports dated December 4, 2021. The bonus shares of the company were allotted in the proportion of 159 new bonus equity shares of Re 1 for each equity share of INR 1, which makes it in the ratio of 159:1 share.

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Snapdeal - Partnerships

Snapdeal has seen an array of partnerships since it was founded. Here's a list of some prominent ones for your perusal:

  • Snapdeal has partnered with the online dispute resolution platform Sama, to deal with consumer complaints. It has already witnessed a success rate of 50% in the initial pilot on June 17, 2021
  • Snapdeal has collaborated with the National Payments Corporation of India (NPCI) to help its users make QR code-based payments smoothly on the arrival of the orders on December 17, 2020
  • Snapdeal has partnered with Medlife. This will help the users of the former to avail themselves of the facilities of health checkups from the comfort of their homes, order diagnostic tests, and order medicines online to be delivered at their doorstep on May 6, 2020
  • Phonepe is another association of Snapdeal and as a result of the collaboration, the latter lets the users pay directly from their Phonepe accounts without any hassles. This partnership was announced on December 11, 2018
  • In March 2015, Snapdeal brought Bollywood’s famous actor, Aamir Khan for the promotion of its website in India
  • Also, in November 2019, the company joined the International Trademark Association (INTA) to support the protection of intellectual property on online marketplaces
  • The Walmart-backed eCommerce company is in talks with Bank of Baroda Financial and NPCI to launch co-branded RuPay credit cards, which will be rolled out for the users by March 2022. This joint effort will aim to popularize the adoption and the usage of credit cards among the online buyers from the smaller towns and tier 2 and tier cities of India. These cards would also bring reward points and other benefits for the users and can be used on Snapdeal and other transaction points.  

Snapdeal - Growth and Revenue

Snapdeal has reported consolidated revenue of $110.84 million (INR 846.4 crore) in FY20 from Rs 839.4 crore when last recorded. in FY19 Losses grew 47% from $25.5 Million (INR 186 Cr) in FY19 to $37.5 Million (INR 274) Cr in FY20.

Once valued as a unicorn, among the first of the Indian companies with a billion-dollar valuation, Snapdeal's dreams seemed to take a nightmarish turn in the summer of 2017 amidst funding issues and an impending merger deal with Flipkart that too at a fraction of $6.5 bn, the highest valuation of the company. However, the founder duo didn't lose hope and stayed strong and independent, which is why Snapdeal is among the Indian e-commerce startups that is still strongly reigned by its founders. Besides, Snapdeal is notably improving its status, focussing on adding value to the customers.

The company has reportedly achieved numerous milestones, most of which came through in the past 4 years. Some key highlights that speak of the growth of Snapdeal are:

  • Resisted the blows of two major conditions in 2013 and 2017.
  • Reduced its losses by a whooping 95%.
  • Saw a growth of 85% in its revenue from operations.
  • Website traffic grew by 100%
  • Saw more than 33 million unique buyers on its platform.
  • Onboarded around 20,000 new sellers on the platform in addition to its 500,000 sellers.
  • All of this growth that the company is continuing to witness is part of a new revolution commonly referred to as Snapdeal 2.0

Snapdeal conducted its "Kum Mein Dum Diwali sale" in October 2020. In this extensive sale, the platform witnessed tremendous growth of traffic and buyers.

“The extent and depth of orders received and shipped from non-metros cities illustrates the accelerated growth of online commerce in recent months,” said Snapdeal.

Snapdeal’s phenomenal growth in this short span has been a remarkable journey for the founders and the startup community. Also, when eBay, one of the giants in this space invested in Snapdeal, they brought immense experience to the table.

Snapdeal is likely to launch its IPO sometime soon in the upcoming year.

Snapdeal - Startup Challenges

Snapdeal is facing tremendous market competition on the arrival of Amazon and with the growth that the Indian e-commerce platforms like Flipkart have seen. Besides, the rebranding of the company had also taken quite a hit. Furthermore, the company, due to its rising expenses and dipping valuation, has also seen a high attrition rate of its top executives.

Snapdeal - FAQs

What is the revenue of Snapdeal?

Snapdeal has reported consolidated revenue of $113.03 Million (around INR 846.4 Cr) in FY20.

What is valuation of Snapdeal?

The market valuation of Snapdeal once stood at $6.5 Billion (INR 47 Thousand Crores) in 2016, however, the company has faced heavy competition in its league, which had a heavy toll on its operations, total valuation, and overall revenues. Snapdeal is currently valued at over $800 mn in 2021.

Who is the owner of Snapdeal ?

Kunal Bahl and Rohit Bansal are the founders of Snapdeal. Jasper Infotech Private Limited is the owner/parent organization of the company.

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