One of the biggest Indian e-commerce marketplace: Snapdeal, announced on Monday that is is planning to invest around Rs 1,200 crores in its in-house logistics network and will also acquire some five to six companies in mobile technology and more supply chain this year.
Snap deal is an online e-commerce Market Place started by Kunal Bahl and co-founded by Rohit Bansal. Kunal Bahl is a Wharton graduate and started website as part of the dual degree M&T Engineering and Business program at Penn in the year 2010.
The co-founder Rohit Bansal said, “We have formed a strategic partnership with GoJavas and it will continue to function as an independent company. We will co-invest in building capacity for the future.”
In the present market, when many online ecommerce websites are launching day by day, the delhi based company is expecting to raise its sales number of orders by 10 times in the next two-three years and says, “We could be delivering around eight crore packages per month in the near future,” said Bansal. “We are working on differentiated services for shoppers, and logistics will be a big part of it.”
The snapdeal does not have any in house logistics so far like most of its rival competitors have and works with third-party logistics service providers. Two of its most common third-party service providers include GoJavas and BlueDart who fulfil its shipping needs.
Apart from Hiring 800+ enginees by end of this year, snapdeal is also focusing on mobile technology. Bansal said, “Around 70% of our sales come from mobile phones. And, the ticket size of mobile sales is much larger from tier 2 and tier 3 towns since broadband penetration is low in those areas”.
Facts about Snap Deal:
1. Snapdeal is an ecommerce company in delhi and was started in February 2010.
2. Snap Deal was started by Kunal Bahl and Rohit Bansal.
3. It was started as a daily deals company that’s why named snapdeal but later on expanded to become an online marketspace in September 2011.
4. Snapdeal acquired esportsbuy.com in April 2012, which is an online sports goods retailers.
5. It acquired Doozton.com in April 2014 which is a fashion products discovery site.
6. It acquired Wishpicker.com in December 2014 and Smartprix.com in January 2015. In February 2015, it acquired Exclusively.in
Awards and Recognition of Snapdeal:
1. eRetailer of the Year and Best Advertising compagin of the year organized by Franchise India in February 2012.
2. Red Herring Asian Awards 2011 winner
3. E-Commerce website of the year award in January 2012 at WAT awards.
4. Voted as one of the Busiest brands of India in afaqs’s annual buzz-making poll.