Snapdeal

Ministry of Corporate Affairs launches probe into Snapdeal operator

The probe is reportedly part of a larger investigation by the MCA into around 700 companies that have received investments from Chinese firms

Snapdeal founders Kunal Bahl, Rohit Bansal exit Urban Co with 200X returns

Titan Capital's Rohit Bansal and Kunal Bahl secured the returns on their decade-old seed cheque to the firm, having invested Rs 57 lakh in 2015

Snapdeal's FY23 consolidated loss narrows to Rs 282 cr from Rs 510 cr

Snapdeal's has seen its consolidated loss after tax narrow to Rs 282.2 crore for FY23, from Rs 510 crore in previous year, according to a statutory filing. As per the company's RoC filing, the total income fell to Rs 388.1 crore in FY23, from Rs 563.5 crore in the previous fiscal (FY22). "The focus on profitability and long-term sustainability of the business yielded results with adjusted EBITDA loss reducing to Rs 144 crore in FY2022-23, from Rs 419 crore in FY2021-22," the filing said. The loss reduction measures also led to revenue decreasing to Rs 388 crore in FY2022-23 from Rs 564 crore in FY2021-22, it added. "In the past fiscal year, the company continued its well defined focus on the value segment, coupled with a steadfast commitment to staying on the path towards reaching profitability." the filing said. The company said it has implemented several enhancements to its operations. "These focused on improving selection and delivery experiences, optimising cost and minimisin

Retail, e-commerce likely to see fairly good year ahead: Snapdeal CEO

Retail and e-commerce businesses are likely to see a "fairly good" year ahead, given the strength of the Indian economy and uptick of demand in various categories as well as traction from semi-urban locations, according to Snapdeal CEO Himanshu Chakrawarti. "As we are seeing currently, our economy is in a very good shape and all aspects of the business, specifically the categories that we operate in, which is in the in disposable income categories... I think we're going to see a significant boost-up next year," Chakrawarti told PTI. He was speaking on the sidelines of Digital Acceleration & Transformation Expo (DATE with Tech). "We are seeing greenshoots come through even in the semi-urban areas and with the tailwind that we have, I think both retail and e-commerce should see a fairly good year in 2024," Chakrawarti said. On Snapdeal's expansion plans, the top boss of the e-commerce platform said it is looking at ways to reach out to more and more people in the hinterland, and to .

Snapdeal eyeing major share in value lifestyle growth in next 5-10 yrs: CEO

Snapdeal believes the e-commerce story over the next 5-10 years will be around the growth of the 'value' lifestyle segment, and the online marketplace is looking to corner a "decent slice of this opportunity" as it focuses on unit economics, quality checks, and use of AI as well as tech to measure and improve customer experience. Snapdeal's business metrics are "in a good space" in the value e-commerce category and it has opted to "reinvest in growth now" as financial parameters are within striking distance of profitability, Himanshu Chakrawarti, CEO of Snapdeal, told PTI. In an interview, Chakrawarti said that Snapdeal expects a "normal" festive season, which typically yields a 25-30 per cent surge in demand over other months. "As per estimates the value (lifestyle retail) market in India is growing significantly, from USD 88 billion to USD 175 billion. Also along with this, the e-commerce portion is going to increase from 8 per cent to 22 per cent...we are largely focused on our .

Festival season: E-com giants Amazon, Flipkart add to cart mega sale events

Over 1.4 million entrepreneurs, including Flipkart Samarth sellers, encompassing artisans, weavers, women, and self-help groups (SHGs), are set to participate in TBBD

IIFL Securities says 80 companies have lined up initial public offerings

As many as 80 companies, including India First Life Insurance, Snapdeal, Tata Technologies, Netweb Technologies and Go Digit Insurance, have lined up Initial Public Offerings (IPOs), brokerage firm IIFL Securities' President Nipun Goel said on Thursday. According to him, the IPO market has been fairly active over the last three months. and was kick-started by Mankind Pharma with its Rs 4,326 crore-offer that was very well received by investors and importantly, the shares traded strong post listing. Since then, Goel said, five more IPOs have been successfully completed and there is an expectation for a number of IPOs to be launched in the next 4-8 weeks. "As of date, there are approximately 80 companies wherein draft offer documents have been filed with regulator Sebi and we expect several of them to tap the market over the next couple of months," Goel said. He noted that capital raising is expected to be broad-based across multiple sectors, including financial services, healthcare

Snapdeal starts taking orders on ONDC, sees demand for smaller cities

Company says it's only e-commerce platform to fintegrate its buyer and seller platforms on platform

How Snapdeal is creating focused brands to capture value e-commerce segment

Forms subsidiary to create such brands, is pivoting towards Bharat to reach value-conscious customers in tier-2 and beyond

Snapdeal defers $152 mn IPO indefinitely citing poor market conditions

Development follows shelving of IPO plans by several notable firms such as Image Marketing (owner of wearable brand Boat), Droom Technology and PharmEasy

Snapdeal to shelve its $152 million IPO amid tech stock market retreat

Snapdeal filed its initial public offering (IPO) regulatory papers for approval in December 2021, a year that saw many stock market debuts and record fund raising by Indian startups

'Entrepreneurs must have courage to continue', says Snapdeal CEO Kunal Bahl

From Snapdeal's birth and evolution to his faith in startups and possible lessons from upcoming IPO, Bahl has a freewheeling conversation with Nivedita Mookerji

ONDC adds 15 more cities, onboards Snapdeal for pan-Indian access

The network first began its pilot on April 29 in Delhi, Bengaluru, Coimbatore, Bhopal and Shillong

Flipkart and the startup longevity challenge

Flipkart, which is rarely listed as a startup or unicorn now, has also had to delay its IPO

Mobile retailers' body to seek govt intervention on e-commerce onslaught

A leading mobile retailers' body has claimed that unethical and monopolistic business practices of online sales platforms are jeopardising' the future of 150,000 brick and mortar smartphone retailers

Paytm Mall, Snapdeal fined Rs 100,000 each over faulty pressure cookers

The CCPA imposed of Rs 1 lakh fine each on Paytm Mall, Snapdeal for selling non-standard pressure cookers and asked them to recall sold items as well as reimburse the amount paid by consumers

Himanshu Chakrawarti named Snapdeal president for value commerce strategy

The e-commerce firm filed adraft red herring prospectus on Tuesday with the securities regulator for its IPO.

Snapdeal co-founders to take home Rs 5 cr each in salary in 2021

Snapdealspent nearly Rs 161 crore on employee benefits in the fiscal year 2021. Its co-founder and CEO Kunal Bahl was set to get compensation of Rs 3.5 cr, along with a performance bonus of Rs 1.5 cr

Snapdeal files IPO papers to raise Rs 1,250 crore via fresh issue

Snapdeal receives more than 86 per cent of its orders from outside metros

Plan to expand into omni-channel distribution, says Snapdeal

Snapdeal said the company intends to create a distribution channel through offline stores, partnering with existing neighbourhood stores and new franchisees