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Tag: kunal bahl

Bewakoof.com Raises Fresh 5.55 Crore Funding From Snapdeal Founders
20Mar By PriyankaNo Comments
FUNDING

Bewakoof.com Raises Fresh 5.55 Crore Funding From Snapdeal Founders

Mumbai based fashion and lifestyle platform Bewakoof.com have raised fresh funding of ₹5.55 Cr from existing investors including Kunal Bahl, Rohit Bansal, Nikhil Vora (Founder, Sixth Sense Ventures), and Uniqorn Ventures in what appears to be a seed round. Earlier in 2015, the Snapdeal founders also invested an unknown seed amount in bewakoof.com. The Snapdeal founders combined have invested ₹4 Crore out of the ₹5.55 Crore raise. Including this round, Bewakoof has so far raised ₹15.6 Crore from investors including O3 Capital. The company Bewakoof Brands Private Limited allotted 1,678 Series Seed III preference shares of ₹15/- at a premium of ₹33,069.0046/- each on March 8, 2018. Founded by Prabhkiran Singh and Siddarth Munot in 2010, the website sells trendy and casual apparels a...
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‘This Is The Best Time For Our Business’ Says Kunal Bahl
28Jul By RishabhNo Comments
Entrepreneurs Talk

‘This Is The Best Time For Our Business’ Says Kunal Bahl

Kunal Bahl comments on the sale of Freecharge to Axis Bank, says it will provide Snapdeal the "necessary boost in resources" to continue its e-commerce journey. Just hours after the deal was announced, Bahl wrote to employees seeking to assuage concerns saying Axis Bank intends to not just retain all Freecharge employees but also "invest significantly" in the team and brand. His comments also assume significance amid reports that the Snapdeal board is leaning towards selling the e-commerce company to Flipkart. Snapdeal earlier announced the sale of Freecharge to Axis Bank for $60 million, which was much lower than the price of $400 million for which it bought Freecharge  back in 2015. Bahl referred to the transaction with Axis Bank was "a great outcome". "They intend to retain...
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Struggling E-commerce Company Snapdeal Rope in SBI Caps and Kotak Mahindra Capital For IPO in 2019
1Apr By PriyankaNo Comments
News

Struggling E-commerce Company Snapdeal Rope in SBI Caps and Kotak Mahindra Capital For IPO in 2019

Struggling ecommerce major Snapdeal has sounded out five merchant bankers, including SBI Caps and Kotak Mahindra Capital, to work on a public offer that is likely to hit the market in the second half of 2019. The third largest marketplace majority owned by Japanese giant SoftBank has also reportedly appointed Swiss investment banking major Credit Suisse as a special advisor for the share sale, people aware of the development told PTI. "The IPO process is on with in earnest and may open in the second half of calender 2019, depending on the market sentiment. The management has zeroed in on five i-bankers incluing SBI Caps and Kotak MahindraBSE 0.82 % Capital,"said the source. The source also said out of the five i-bankers sounded out, it will pick only one lead-banker that could be ...
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E-commerce Firm Snapdeal to Make Profit in Two Years: CEO
6Feb By reutersNo Comments
Entrepreneurs Talk

E-commerce Firm Snapdeal to Make Profit in Two Years: CEO

Indian e-commerce firm Snapdeal expects to turn profitable in the next two years, its CEO said, as the company cuts costs and boosts efficiency in a market currently dominated by homegrown Flipkart and US internet giant Amazon. Kunal Bahl, who co-founded Snapdeal in 2010, also told Reuters in an interview that the online marketplace provider backed by Japan's SoftBank Group did not immediately need to raise capital unless it makes an acquisition. A burgeoning Indian middle class' rapid uptake of wireless high-speed internet has prompted buyers to shop online, boosting sales at e-tailers and making the country's internet services market one of the world's fastest growing. The value of goods sold online in India is expected to jump tenfold to USD 188 billion by 2025, according to a ...
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Expected to Be Profitable in 3 Years – Kunal Bahl, Snapdeal CEO
18Sep By Press Trust of IndiaNo Comments
News

Expected to Be Profitable in 3 Years – Kunal Bahl, Snapdeal CEO

E-commerce major Snapdeal expects to be operationally profitable in the next three years and is investing heavily in building infrastructure to scale up its business. "More specifically in the next three-year period, at least in our business, I feel fairly confident that we will be at that point of profitability," Snapdeal CEO Kunal Bahl on Thursday said at an International Chambers of Commerce event. (more…)
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