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Snapdeal, an Indian e-commerce platform, has been a significant player in the digital retail space since its founding. It focuses on value-priced merchandise targeting the budget-conscious segment of Indian consumers. Co-founded by Kunal Bahl and Rohit Bansal, the company was launched in 2010 and gained prominence as a domestic rival to other e-commerce giants. Over the years, Snapdeal has restructured its strategy to focus on profitability and consumer reach across Tier 2 and Tier 3 cities, emphasizing affordability. Its transition from high cash-burn growth to a sustainable business model underlines its adaptability in a competitive marketplace. Snapdeal continues to explore strategic partnerships and streamline its operations, positioning itself for long-term viability in India's ever-evolving online shopping sector.
| Founding Year | 2010 |
|---|---|
| Headquarters | New Delhi, India |
| Valuation | $348.6M |
| Total Funding | $1.75B |
| Users | 75 million+ |
| Employees | 277 |
| Revenue FY24 | $46.5M |
| Net Profit (PAT) | - $19.4M |
| EBITDA Margin | -37.9% |
| ROCE | NA |
| Round | Date | Amount (USD) | Valuation | Investors |
|---|---|---|---|---|
| Angel | Jul 23, 2019 | – | – | – |
| Angel | Aug 02, 2017 | – | – | – |
| Series H | Mar 10, 2017 | $16.95M | – | Nexus Venture Partners |
| Series H | Jan 19, 2016 | $200M | – | Ontario Teachers' Pension Plan, Iron Pillar, etc. |
| Series G | Aug 02, 2015 | $500M | $4.8B | Foxconn, Alibaba, Temasek |
| Series F | Oct 27, 2014 | $640.29M | – | Temasek, BlackRock, Premji Invest, etc. |
| Series E | May 13, 2014 | $106.05M | – | Temasek, Tybourne Capital, BlackRock |
| Series E | Feb 26, 2014 | $133.7M | – | eBay, Kalaari, Nexus |
| Series D | Aug 13, 2013 | $75M | – | SoftBank Group |
| Series C | Apr 01, 2013 | $50M | – | eBay, Nexus, Bessemer |
| Venture Debt | 2012 | – | – | Innoven Capital |
| Series B | Jul 28, 2011 | $40M | – | Bessemer, Nexus |
| Series A | Dec 08, 2010 | $12M | – | Kalaari, Nexus, IndoUS |
Over the past three years, Snapdeal has shown a downward trend in revenue from $65M in FY22 to $46.5M in FY24. However, the net losses have marginally improved, reducing from -$23.4M to -$19.4M. This suggests cost rationalization efforts are underway, despite declining top-line figures.
Snapdeal's EBITDA margin continues to be negative, worsening to -37.9% in FY24. Expense per revenue ratio also rose, indicating increased operating pressure and cost inefficiencies as the company attempts to stabilize its model post-pandemic.
Snapdeal’s workforce shrank from 410 in FY22 to 277 in FY24, reflecting cost-cutting and organizational streamlining. While this helps operationally, it may limit future scaling efforts if growth reaccelerates.
In FY24, Snapdeal continued restructuring to sustain operations amidst rising competition. Though IPO plans were shelved, it remains in the race by focusing on deep value markets. Leadership reiterated its vision to become the "affordable Amazon for Bharat."
| Metric | Details |
|---|---|
| Employees | 277 ↓ – Strategic downsizing for cost optimization |
| Revenue | $46.5M ↓ – Revenue declined YoY since FY22 |
| PAT | - $19.4M ↑ – Reduced losses indicate cost control |
| EBITDA Margin | -37.9% ↓ – Margins deteriorated FY23 to FY24 |
| Strategic Investments | Focused on Tier-2 market logistics and private labels |
| IPO Status | IPO plans filed and delayed, pending market conditions |
| Expansion Focus | Core on “value” segment of eCommerce |
| Latest News | Ongoing restructuring, IPO delay, market repositioning |
Snapdeal’s journey from a high-profile unicorn to a lean, efficiency-driven value commerce player is a case study in strategic pivots. Despite revenue contraction and cost challenges, it is actively focusing on long-term viability through sustainable operations, measured hiring, and tiered market penetration. The IPO ambitions, while on hold, underline its confidence in future growth.
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