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Snapdeal is an Indian e-commerce company, based in New Delhi, India. It was founded in February 2010 by Kunal Bahl and Rohit Bansal. [3] Snapdeal is one of the top 5 online marketplaces in India. [4] Snapdeal targets the value e-commerce segment, which Bahl estimated to be three times larger than the branded goods market. [5]
Bahl co-founded the e-commerce company Snapdeal in 2010. [6] [7] In 2022, the company assumed the group corporate identity of AceVector, which houses multiple businesses such as Snapdeal, Unicommerce, and Stellaro Brands.
Bansal cofounded Snapdeal along with his school friend Kunal Bahl on February 4, 2010. [ 6 ] [ 7 ] In February 2020, Snapdeal invested in a startup Sanfe that deals in female hygiene products. It also invested in Ola , Bira, Razorpay, Beardo.
On 8 April 2015, Snapdeal acquired Freecharge in what was referred to as the second biggest takeover in the Indian e-commerce sector at the time, after the buy out of Ibibo by rival MakeMyTrip. The deal was for approximately US$400 million in cash and stock. [2] [3] On 27 July 2017, Axis Bank acquired Freecharge for $60 million. [4]
[41] [42] In July 2017, Flipkart made an offer to acquire its main domestic competitor, Snapdeal, for US$700 to 800 million. It was rejected by Snapdeal, which was seeking at least US$1 billion. [43] In August 2018, American retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing Flipkart at around US$20 ...
India has an Internet user base of about 690.0 million as of November 2023, about 40% of the population. [1] Despite being the second-largest user base in world, only behind China (1.079 billion, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54M, 81%), but is growing, adding around 6 million new entrants every ...
Xolo offers Android smartphones in the series: Era, Black, Q, Omega and Play. The company sells its devices only via online marketplaces/ e-commerce websites such as Snapdeal, Flipkart and Amazon [citation needed]. Era series handsets are priced from INR 5,000 to 10,000, whereas Black series ones are priced above Rs. 10,000. [citation needed]
The concept of a one-day online sale originated in the United States, where many online shopping sites offer discounts on "Cyber Monday", the first Monday after the so-called Black Friday, the day that follows the U.S. Thanksgiving. Cyber Monday started in 2005 and the concept has spread to several countries including Canada, Japan, Australia ...
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