Thursday, December 19

Tag: Snapdeal

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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Indian E-commerce Company Snapdeal Suspends its Affiliate Programme Amid Cash Crunch
5Feb By NitishNo Comments
News

Indian E-commerce Company Snapdeal Suspends its Affiliate Programme Amid Cash Crunch

India's one of the leading e-commerce company, Snapdeal suspended its affiliate programme for customers amid cash crunch. The steps taken by the company seems a major setback to its operation and also the concern over cash crunch. The company finds it very hard to secure next round of funding. However, the company is in still talk with one of its biggest investor softbank. The company informed its affiliate partners early Friday that it will not be able to pay for orders and additional installations of its mobile application routed through them, effective immediately. Snapdeal's affiliate network comprises coupons, deal and cashback channels as well as blogs that bring in potential customers to website and mobile app. It pays commissions to affiliates based on the number of people...
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Anand Chandrasekaran Invested in Fashion E-commerce Portal Fynd
5Jan By NitishNo Comments
FUNDING

Anand Chandrasekaran Invested in Fashion E-commerce Portal Fynd

Fashion e-commerce portal Fynd has raised an undisclosed amount of funding from Facebook executive Anand Chandrasekaran. Arvind Sports Lifestyle CEO Rajiv Mehta and Livspace co-founder Ramakant Sharm also participated in this round. Fynd optimises delivery time for online shoppers by sourcing products from the outlets nearest to the customer. It sells fashion apparel, bags and accessories on its platform. "Our major purpose of raising the round wasn't to gain more capital but to partner with stakeholders who can actually help us with their experiences and expertise.” Last year, Fynd completed preliminary testing of its business model and was scaling up business from Mumbai to nationwide, said Fynd’s, co-founder Harsh Shah. "Around the same time, Anand, Ramakant, and Rajiv amongst...
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Snapdeal Started Delivery of Hard Cash at Home
22Dec By PriyankaNo Comments
News

Snapdeal Started Delivery of Hard Cash at Home

During this demonetisation period, India based e-commerce portal Snapdeal rolled out a new service called Cash@Home – which will allow customers to order cash and get it delivered at their doorstep. The company will be using the cash that it receives through Cash on Delivery (CoD) to operate this facility. It will charge a convenience of Re 1, which can be either paid through FreeCharge or through a debit card at the time of booking the order. A user can request for Rs 2000 per booking and any bank’s ATM card can be used to pay for the cash. The customers are not obligated to order anything else from Snapdeal to access the ‘Cash@Home’ facility. The service is already live in Gurgaon and Bangalore and will be extended to other major cities in the coming days. Snapdeal’s co-founder Roh...
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Alibaba Backed Out To Acquire Indian E-commerce Firm Snapdeal
2Dec By AnkitaNo Comments
News

Alibaba Backed Out To Acquire Indian E-commerce Firm Snapdeal

China's Alibaba Group Holding is not buying Indian e-commerce company Snapdeal and is not in talks to do so, a person familiar with the matter said on Thursday, dampening talk that an acquisition was in the works. Rumour rumour on the wall, which troll did you callYou said sold, they said bought, but whoever listened to you didn't get diddly squat.— Kunal Bahl (@1kunalbahl) December 1, 2016 Hangzhou, China-based Alibaba was also in talks with Flipkart for a potential buyout but it seems like the talks have fallen through as Alibaba takes an interest in acquiring Snapdeal, which has raised over $1.76 billion in 12 funding rounds. Alibaba had already invested in India's leading online payment platform Paytm in September 2015, also acquired 40% stake. A strategy likely t...
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Ecommerce Firms Paytm & Amazon Temporarily Halting COD Orders, Issue Advisories
10Nov By PriyankaNo Comments
News

Ecommerce Firms Paytm & Amazon Temporarily Halting COD Orders, Issue Advisories

Ecommerce companies are struggling to handle cash on delivery (COD) orders, following the government's decision to demonetise Rs 500 and Rs 1,000 currency notes, with firms like Amazon and Paytm temporarily halting the facility for customers. Some companies like Uber and BigBasket have issued advisories urging customers to pay in lower denominations, while others like Flipkart and Snapdeal have set limits to the value of orders that can be delivered through COD. According to industry estimates, about 70 per cent of the shoppers opt for cash while buying a product. "We have temporarily stopped cash as a payment option for new orders. Customers who had already placed COD orders before midnight 8/11 can pay for their orders using debit or credit cards or currency of valid denominations ...
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Have you Checked Snapdeal’s Logistics and Delivery Team Unbox Zindagi Look?
24Oct By AdityaNo Comments
News

Have you Checked Snapdeal’s Logistics and Delivery Team Unbox Zindagi Look?

Snapdeal, India’s largest online marketplace, today announced its collaboration with Nikasha Tawadey Khemka, a contemporary prêt and couture label that retails from leading fashion boutiques in India and abroad. As part of Snapdeal’s brand revamp, Nikasha has designed the new brand look for Snapdeal’s delivery team. The designer uniform for Snapdeal is a beautiful mix of strong aesthetics and functionality, and uses a color blocking element that has been taken from the logo itself. This gives a sleek and edgy feel to the designed outfits. The complete gear includes Nehru-collared T-shirts, accessories like waist pouch, cap and delivery bag in the cheery Vermello brand colour. The new look of the logistics staff takes cues from the brand’s warm and vibrant ‘Unbox Zindagi’ positioning ...
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Anand Chandrasekaran Will Join Facebook Messenger App Team
19Sep By PriyankaNo Comments
News

Anand Chandrasekaran Will Join Facebook Messenger App Team

As per the sources Facebook hired Snapdeal former executive and a high-profile investor Anand Chandrasekaran to help develop strategies for its Messenger app. The announcement could be made tomorrow. Both Anand and facebook didn’t immediately respond to requests for comment. Anand Chandrasekaran resume includes company like Yahoo & Snapdeal as a former senior executive. He also served at India’s largest cellular company, Bharti Airtel Ltd. as a chief product officer.  Where he launched Airtel’s mobile application and a popular music streaming app. His expertise in Silicon Valley and India will help messenger platform. He will assume a global leadership role working on strategies and partnerships for Facebook’s billion-user-strong texting service, according to people familiar w...
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Gurgaon Based RupeePower Eyes Rs 15 Cr Revenue in FY17
11Sep By NitishNo Comments
BUSINESS

Gurgaon Based RupeePower Eyes Rs 15 Cr Revenue in FY17

Financial products platform RupeePower expects to grow about 70 per cent this year, clocking Rs 15 crore in revenue as it expands its product portfolio and facilitates disbursal of Rs 10,000 crore in loans. The Gurgaon-based startup, which had sold a majority stake in the company to eCommerce major Snapdeal in April 2015, has bought back control in August this year. Snapdeal is now a minority shareholder in the company. "We want to become a platform to guide users in making the right investment choices. They (currently) get access to a number of products like loans and credit cards through our platform and using analytics based on their spending patterns, social media profile, we want users to be able to access the right financial products," RupeePower founder Tejasvi Mohanram said. H...
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Flipkart & Snapdeal Will Hire 20000 Staff Ahead of Festive Season
11Sep By Press Trust of IndiaNo Comments
News

Flipkart & Snapdeal Will Hire 20000 Staff Ahead of Festive Season

E-commerce major Flipkart expects to hire over 10,000 temporary staff to ramp up its delivery and logistics service to meet the festive demand. The move comes as part of the preparations being made by e-commerce companies as they launch offers to boost sales during the upcoming festive period. "With the festive season coming in, we are confident that Big Billion Days (sale) will be bigger and better than before this year. "In addition to having the new capability of alternate delivery model, we are looking at hiring more than 10,000 temporary staff in logistics and last mile across the country," Flipkart Chief Administrative Officer Nitin Seth said. This will be done to meet the massive demand that Flipkart expects during the festive season, he added. Flipkarts rival Snapdeal al...
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Snapdeal Offers Rs 1,000 Cr Collateral Free Loans For Sellers
7Sep By Press Trust of IndiaNo Comments
News

Snapdeal Offers Rs 1,000 Cr Collateral Free Loans For Sellers

Online marketplace Snapdeal has announced collateral-free loans worth Rs 1,000 crore for its sellers ahead of the festive season to enable them to stock up adequately. The loans would be disbursed through its ongoing programme Capital Assist, which is now managed by FreeCharge and is available to all sellers and merchants on Snapdeal, Shopo and FreeCharge, Snapdeal said in a statement here. "The festive season provides an opportunity to our sellers to grow their businesses many times over, with the sharp increase in demand. Through Capital Assist, we have made the funding process frictionless and expect more than Rs 1,000 crore disbursal to Snapdeal sellers ahead of this Diwali season," Vishal Chadha, the Senior Vice President (Market Development) of Snapdeal, said. Snapdeals C...
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