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Tag: Snapdeal

  • Snapdeal bats for new FDI policy in e-commerce from Feb 1

    Snapdeal bats for new FDI policy in e-commerce from Feb 1

    Leading Indian e-tailer Snapdeal on Tuesday supported the implementation of revised Foreign Direct Investment (FDI) policy on e-commerce from February 1. “Snapdeal supports the immediate implementation of the current FDI policy on e-commerce so that marketplaces are not misused to run inventory operations,” Delhi-based Snapdeal told IANS in a statement.

    The Ministry of Commerce and Industry on December 26 issued revised policy guidelines on FDI in e-commerce.

    The policy revision, which will be in force from February 1, dictates that e-commerce platforms providing a marketplace will not exercise control or ownership over the inventory.

    E-tail majors Flipkart and American online retailer Amazon’s Indian arm, however, sought an extension on the implementation of the new norms, amid protesting voices from retail traders’ bodies against granting the extension.

    “Government policy changes will have long-term implications in the evolution of the promising sector and the whole ecosystem,” American retail giant Walmart-owned Flipkart told IANS through a statement earlier.

    The new norms also barred e-tail firms from allowing any company to sell its products exclusively on their e-commerce platforms alone.

    While Amazon India had said in a statement to IANS that “it has always operated in compliance with the laws of the land”, it did not respond to queries on the changes it may have to make to its business model to suit the new norms.

    On the other hand, the Confederation of All India Traders (CAIT) has asserted that delaying the execution of the policy will allow the e-tailers to continue with their “dominance over retail trade”.

    “The modus operandi of these e-commerce companies for seeking extension (on implementation of new FDI norms) is to keep delaying fair execution of the policy,” CAIT wrote in a letter to the Ministry of Commerce and Industry this month.

    “They (e-commerce platforms) may continue with their sinister designs of operating all kinds of malpractice including predatory pricing, deep discounting and exclusivity, in order to ensure their control and dominance over retail trade and wipe out the competition,” the letter said.

    The Ministry, however, has not indicated any possible extension of deadline to implement the new norms.

  • Snapdeal unveils ‘Brand Shield’ to help firms fight counterfeits

    Snapdeal unveils ‘Brand Shield’ to help firms fight counterfeits

    India’s e-commerce major Snapdeal Monday said it has launched ‘Brand Shield’, an anti-counterfeiting programme to help brands report counterfeit products being sold on its platform. The programme has been designed based on the inputs received from various brand owners, Snapdeal said in a statement.

    The programme is aimed at enabling a structured interaction between the platform and brands with regard to any intellectual property (IP) issues flagged by the brand, it added.

    Under Brand Shield, there will be an online, triple-check point process for brands to report any violation of their IP rights in terms of trademark, copyright, patent or concerns related to design.

    Brands can also list specific issues relating to unlawful copying of logos, brand images, design features and packaging by sellers listed on Snapdeal’s platform. Brands will be required to establish their ownership of the IP, identify the listing of concern through proof and state their claim of infringement.

    The statement said designated teams at Snapdeal will review every report of IP infringement submitted through Brand Shield. Upon verification of the accuracy and adequacy of the information provided by the brand, Snapdeal will take down the listing within one business day, it added.

    In continuation of current practice, Snapdeal will also continue to de-list products/ listings in compliance with any directions or orders passed by the courts and other relevant authorities, the statement said.

    “The issue of unscrupulous sellers misusing online marketplaces to sell fake goods is a global problem. Brand Shield is part of our ongoing initiatives to collaborate with brands owners to combat counterfeits and infringement offences,” a Snapdeal spokesperson said.

    Snapdeal, an online marketplace, acts as an intermediary connecting buyers and independent third party sellers. It also prohibits the sale of counterfeit products on its marketplace and any sellers found in violation are penalised as per the terms of agreements with the sellers, the statement said.

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  • Snapdeal trims losses for FY18, exudes confidence on hitting profits

    Snapdeal trims losses for FY18, exudes confidence on hitting profits

    E-commerce firm Snapdeal has narrowed its consolidated losses substantially to Rs 613 crore for FY2017-18, as per regulatory documents. According to a report: The company, which competes with larger rivals like Amazon and Flipkart, had posted a consolidated loss of Rs 4,647.1 crore in FY2016-17, documents filed with the Corporate Affairs Ministry showed.

    The consolidated revenue from operations declined to Rs 436.1 crore for 2017-18 as against Rs 903.8 crore in the previous financial year.

    On standalone basis too, Snapdeal trimmed its losses to Rs 440.7 crore in 2017-18 from Rs 4,638.9 crore in the year-ago period. Total revenue was at Rs 514.6 crore in FY18 as against Rs 1,105.7 crore in the previous fiscal.

    Snapdeal, in its filing said, the company had embarked on its journey towards profitability last year.

    “This year, we continued on this path and focused on building a leaner and more capital efficient business. We substantially reduced our costs, both variable and fixed overheads,” it added.

    The company said it reduced its business promotion expense by 88 percent year-on-year, whereas fulfilment expenses were lower by 67 percent y-o-y.

    “We optimised the team structure and leveraged technology more efficiently, which was critical in trimming our employee expenses by 68 per cent y-o-y. While all of this has come at the expense of lower top line, your company is extremely proud of its achievements over the year and is absolutely confident that it is heading in the right direction to achieve profitability,” it said.

    When contacted, a Snapdeal spokesperson said, “Our prime focus last year was to maximize the operating efficiency of the marketplace ahead of implementing our planned growth initiatives. We are extremely pleased to see the incredible results from our disciplined execution with losses reducing by 88 percent”.

    In addition, parts of the revenue, which were disproportionately loss-making, were identified and curtailed during the year in order to realign the business for growth with healthy margins, the spokesperson added.

    Snapdeal, which had seen its business being impacted severely by the intense competition in the e-commerce segment, had last year dumped the US$ 950-million takeover offer from rival, Flipkart.

    It was then that Snapdeal Co-founders, Kunal Bahl and Rohit Bansal had said the company will pursue a fresh strategy in the Indian market.

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  • Amazon India proposes $500m food venture

    Amazon India proposes $500m food venture

    Amazon India has applied to the government to invest US$500 million in a wholly owned venture that will allow the US eCommerce giant to stock locally produced food items and sell them online.

    If successful, it would become the first foreign retailer to enter the segment.

    Amazon already has an eCommerce marketplace in India, but while 100 per cent overseas capital is permitted for such platforms, they cannot sell products of their own. Last year, the government allowed for 100 per cent foreign investment in the retailing of processed foods made in India.

    Amazon has filed its application with the Department of Industrial Policy & Promotion (DIPP), which handles foreign investment in retailing and e­Commerce. The company plans to invest $500 million over five years and could start selling locally produced food items within six months of obtaining approval, says an insider.

    “We are excited by the government’s continued efforts to encourage foreign direct investment in India for a stronger food-supply chain,” says an Amazon spokesperson. “We have sought an approval to invest and partner with the government in achieving this vision.”

    Only Indian grocery delivery companies Big­Basket and Grofers have applied under
    the category, prompting the government to invite companies including CP Foods (Thailand), Heinz, Nestle and Walmart to provide feedback and investment plans.

    This followed the minister for food-processing industries Harsimrat Kaur Badal visiting London with a team of officials last year to meet representatives of such companies as Cobra Beer, Harrods, Marks & Spencer, Sainsbury’s and Tesco to drum up support for the policy.

    Amazon’s current online platform is open to Indian-­owned entities, and similar platforms are run by Flipkart, the country’s largest eCommerce company, and Snapdeal.

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  • Boycott China? Dragon now angel for Indian startups

    Boycott China? Dragon now angel for Indian startups

    ‘Boycott China’ messages may have become routine on WhatsApp in India. But in the startup world, India and China are drawing closer.

    Chinese firms and funds have become big investors in Indian startups , and they are becoming particularly useful now as US funds slow down. Beijing Miteno Communication Technology, a Chinese tech conglomerate, made this year’s biggest acquisition in the technology startup space — the $900 million buyout of Media.net, a subsidiary of Mumbai-based Directi, founded by brothers Bhavin and Divyank Turakhia.

    Ecommerce giant Alibaba has made large investments in Paytm and Snapdeal. Didi Chuxing, the equivalent of Uber in China, has invested in Ola. Internet giant Tencent recently led a $175 million funding in messaging app Hike; prior to that, it led a $90 million round in healthcare solutions firm Practo and, through its joint venture with South Africa’s Naspers, invested in online travel firm Ibibo Group.

    “There are demographic similarities and both countries are seeing consumer growth for digital firms. Also, Chinese players have experience in market creation and running successful digital companies, so they can play a bigger role than being just financial investors,” says Ashish Kashyap, founder of Ibibo, which last month merged with rival MakeMyTrip. Alibaba, for instance, is seen to be actively helping Paytm in various aspects.

    Bhavin Turakhia says the Chinese understand the Indian market better than US companies do as the Indian market is on the same evolution path as that of China, but about 5 to 10 years behind.

    Chinese companies and funds have become big investors in Indian startups . Cheetah Mobile, which owns products like Clean Master, invested in fitness app GOQii late last year.

    Ctrip, one of China’s largest online travel companies, invested $180 million in MakeMyTrip in January. China-based investment firm Hillhouse Capital has invested in CarDekho. Smartphone maker Xiaomi led a $25-million funding round in content provider Hungama Digital Media Entertainment in April.

    Web services company Baidu has said it is scouting for investment opportunities in Indian startups.

    Even other Asian companies are nowhere close to investing as much as the Chinese in Indian startups. Japan’s SoftBank and Singapore’s Temasek are among the few non-Chinese ones that have made investments. Taiwan’s Foxconn has also made several investments, like in Qikpod, Hike and Snapdeal, but some see Foxconn as practically a Chinese company, given that much of its operations is in China.

    What’s pushing the Chinese tech companies to make large investments are two things: one, many of them are making big profits in their home market, thanks partly to the restrictions on foreign competition; and two, the Chinese economy is slowing down.

    So they want to use their surpluses to expand into what is potentially the world’s third largest digital market.

    “There are only two big growing markets where they can invest: India and the United States. Silicon Valley does not respect Chinese capital. So the Indian tech sector becomes attractive to them,” says Mohan Kumar, executive director at Norwest Ventures, a US-based venture fund that has operations in India. Kumar also notes that Chinese investors often value Indian startups at three to five times more than what other seasoned investors do. “So entrepreneurs naturally prefer them,” he says.

    Higher valuations mean the Chinese investors take lower stakes for the same amount of investment, and founders can hope for an even higher valuation in their next round of fund raising.

    Language and politics are a challenge. May be for that reason, the Chinese are for now preferring partnerships and not outright buys. Even investment firms are building partnerships. Chinese VC fund Incapital has tied up with Indian fund IvyCap Ventures to enable its partner investors to have a closer look at potential investment opportunities in Indian startups.

    China is showing interest in traditional industries too. In July, Chinese pharma company Shanghai Fosun Pharmaceutical Co acquired Indian injectables manufacturer Gland Pharma for $1.27 billion, and in August, Chinese conglomerate Jiangsu Longzhe Technology and Trade Development Co acquired Diamond Power Infrastructure, Vadodara-based manufacturer of cables, conductors, transformers and other power sector equipment, for $125 million. But digital technology looks to be where the biggest action is.

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  • LeEco India ready to roll out 1000 stores

    LeEco India ready to roll out 1000 stores

    Chinese tech firm LeEco India plans to open 1000 outlets across the subcontinent by the end of this year.

    Expecting half of its revenue in India to come from physical stores, LeEco filed an application five months ago with the Foreign Investment Promotion Board (FIPB) to open single-brand retail stores.

    These will be a mix of company-owned stores as well as franchise outlets, says LeEco India COO for smart electronics business Atul Jain. “This is in line with our aim to be among top three brands in the country by 2018.”

    LeEco, which also has an offline presence in China, has not revealed the cost of setting up the stores. However, it will be spending nearly US$10 million on marketing in the three months starting October.

    Already the company has tied up with multiple distributors across organised and unorganised channels in India and is already available in about 3000 outlets in cities including Bengaluru, Chennai, Delhi, Mumbai, Pune and Varanasi. It expects to reach 65 cities and have a presence in 6000 to 8000 outlets by December.

    No longer exclusive

    Launched exclusively on Flipkart, LeEco’s products will now be available on other eCommerce marketplaces such as Amazon India and Snapdeal. Flipkart has contributed nearly 75 per cent of LeEco’s sales in India.

    LeEco has invested Rs.50 crore (US$500 million) in setting up a smartphone assembly plant in the Greater Noida area, in partnership with Compal Electronics. The factory has an initial capacity of 60,000 units a month but this will be ramped up to 200,000 by the end of December.

    By the second half of next year, the company plans to start exporting products to Hong Kong, Indonesia, Malaysia, Russia and Singapore, says Jain. LeEco sold more than 70,000 phones and 2000 televisions last month alone.

    Other plans include a partnership with Hungama to offer music services from next month.
    Founded by billionaire Jia Yueting in 2004, LeEco positions itself as the Apple, Netflix and Tesla of China. Apart from smartphones and online content, the company sells TVs, electric vehicles and virtual-reality headsets.

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  • Coupang Sales Growth Bolsters SoftBank’s Bet on Korean Retailer

    Coupang Sales Growth Bolsters SoftBank’s Bet on Korean Retailer

    Coupang’s net sales more than doubled in the first half of the year, helping to validate SoftBank Group Corp.’s bet that the South Korean web retailer will carve out a piece of Asia’s booming e-commerce market.

    Net revenue rose to 868 billion won ($782 million) in the first half of the year, helped by retail expansion and increased margins, according to a financial document seen by Bloomberg. Gross merchandise volume climbed 26 percent to 1.8 trillion won in the period, the document showed.

    SoftBank, whose investment in Alibaba Group Holding Ltd. has zoomed past $70 billion, backed Coupang in June 2015 with $1 billion in financing that valued the Seoul-based company at $5 billion. The bets are part of billionaire Masayoshi Son’s quest to replicate his success with Alibaba, an investment that started with a $20 million stake more than 15 years ago. SoftBank’s expansion in Asia has also led to deals with India’s Snapdeal and Indonesia’s Tokopedia.

    The number of products offered by Coupang more than tripled to 700,000 items from a year ago, according to the document. The startup launched its Rocket Pay services and opened a fulfillment center in Korea, the first of two planned for this year, the document showed.

    Matthew Nicholson, a spokesman for SoftBank, declined to comment. Coupang Chief Executive Officer Bom Kim didn’t immediately reply to an e-mail seeking comment. Backers of Coupang include Sequoia, Greenoaks Capital and Rose Park Advisors.

    The startup, founded in 2010, is burning through cash to expand and capture users as it competes with sites such as Ticket Monster, a Korean online retailer that’s owned by Groupon Inc., KKR & Co. and Hong Kong-based Anchor Equity Partners. Forward Ventures, Coupang’s parent, said its operating loss widened to 547 billion won in 2015, compared with a 121.5 billion won loss in 2014.

    SoftBank’s e-commerce bet in India is under even more pressure. Snapdeal, which has struggled to narrow the lead of its home-grown rival Flipkart Ltd., now faces competition from Amazon.com Inc. In June, Amazon Chief Executive Officer Jeff Bezos pledged to invest another $3 billion in his company’s Indian operations, bringing the total to $5 billion.

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  • New lifeline for sagging Rocket Internet fashion sites

    New lifeline for sagging Rocket Internet fashion sites

    Investors have injected US$339 million lifeline into GFG, which owns the struggling Rocket Internet fashion websites.

    Rocket Internet and others have sunk the euro 300 million into its Global Fashion Group, raising GFG’s valuation to €1 billion – which is about a third of what it was worth hardly a year ago, when it raised €150 million.

    Launched in Luxembourg in 2014, GFG is a holding company formed from a merger of five eCommerce fashion companies – India’s Jabong, Latin America’s Dafiti, Russia’s Lamoda, Middle East firm Namshi, and Zalora (Southeast Asia and Australia).

    GFG acting CEO Romain Voog says the financing will provide the group with the capital it needs to continue with its strategy of “building out its leading position” in the online fashion sector in emerging markets.

    Rocket claims GFG’s performance has improved in the past year, easing its losses and raising its adjusted EBITDA margin. But it has been struggling to gain market share, and pulled out of Thailand and Vietnam, one of the fastest-growing eCommerce and internet markets in Asia.

    And GFG’s Jabong business in India, considered the next big market after China, has reportedly been up for sale for months with its valuation eroded by a tenth in just a year. Meanwhile, rival eCommerce companies like Flipkart and Snapdeal have soared in value.

    Voog is optimistic the reduced losses combined with this funding round will help accelerate the GFG’s path to profitability while it expands. A third of the €300 million raised came from Rocket. Swedish investor Kinnevik was also involved, along with existing shareholders.

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  • Sevenfold growth forecast for Indian eCommerce

    Sevenfold growth forecast for Indian eCommerce

    The Indian eCommerce industry is expected to burgeon in the next four years, according to a report by the Confederation of Indian Industry (CII) and Deloitte Touche Tohmatsu India.

    While the business to business (B2B) segment is expected to more than double from US$300 billion last year to $700 billion in 2020, the business to consumer (B2C) segment will grow more than seven times from $13.6 billion to $101.9 billion, says the report.

    It will be supported by a spurt in number of online shoppers, from 20 million in 2013 to 220 million in 2020, as well as a three-fold increase in average spending by online shoppers, from $147 in 2013 to $464.

    However, there is a price: combined losses for eCommerce companies such as Flipkart, Snapdeal (Jasper Infotech) and PayTM (One97 Communications) last year stood at $557 million, says the report. It notes that most B2C eCommerce companies globally, even after five to 20 years in business, have low profitability.

    “This trend, however, does not hold true for B2B eCommerce companies, which are profitable with greater GMV values.” The report attributes this to lack of heavy discounting, greater emphasis on quality rather than price, and higher volumes of purchases.

    A spurt in internet penetration, especially via mobile devices, is expected to propel eCommerce sales in India, with the report saying the proportion of 3G users among internet users has improved substantially since 2013, when about 28 per cent of the 150 million mobile internet users in India had 3G connections. This year, about 59 per cent of the estimated 371 million mobile internet users in India are expected to have 3G connections.

    According to the report, India had the highest share of mobile based eCommerce sales (41 per cent), ahead of China (37 per cent) and the US (15 per cent). The report also estimates a significant growth in the digital payments segment, from $20 billion in 2014 to $115 billion in 2018, though 60 per cent of transactions in India currently use cash on delivery.

    While payments in instalments and digital wallets account for less than 2 per cent of overall transactions, they will grow faster than plastic money, says the report. eCommerce firms such as Flipkart, Snapdeal and Amazon India are seeking to strengthen their payment offerings.

    Snapdeal bought utility payment service provider FreeCharge for $400 million last year, in the biggest domestic consumer internet deal. Amazon acquired Emvantage Payments for an undisclosed amount in February, and market leader Flipkart acquired payment services start-up FX Mart, which holds a prepaid wallet licence, in September last year. In March, the company launched mobile wallet Flipkart Money, 18 months after shutting down its payment gateway PayZippy.

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  • Snapdeal integrates offline, online retail in new platform

    Snapdeal integrates offline, online retail in new platform

    Indian online marketplace Snapdeal has launched an omnichannel platform that integrates its offline and online retail channels. It offers customers the convenience of online discovery and ordering along with faster hyper-local fulfilment and is expected to power an ecosystem of leading brands, large format retailers (LFRs), small businesses and technology start-ups. 

    The first categories to go live on the Janus omnichannel platform will be mobile phones in partnership with The Mobile Store (TMS), automobile tyres with Michelin, inverters and batteries in partnership with Luminous and fashion products with Shoppers Stop.

    “This platform will blur the lines between offline and online retail, demonstrating that both channels can act as gateways to each other,” said  Kunal Bahl, Co-founder and CEO, Snapdeal.

    Snapdeal said various studies have shown that consumers switch between online and offline before making purchase decisions. For one, 77 percent of consumers browse in stores before making a purchase online and 55 percent consumers conduct on-the-go mobile research before making a purchase in-store.

    In certain categories of products like mobile phones, majority customers follow up their online purchase with a visit to the store for accessing related services like data transfer, screen protection etc.

    These trends clearly indicate a need to create channels for customers to seamlessly access the benefits of both online and offline to create a delightful buying experience.

    Customers buying their phones on Snapdeal will have the option to pick up or get their phone delivered from the nearest TMS store within two hours of ordering. TMS trained agents will also help set up and demonstrate phone features in addition to offering services like sim resizing, data transfer, screen guard installation, all in the comfort of the buyer’s home.  Customers will also be able to access these services at the nearest store if they chose the pickup option. These services will be available across 70 cities in India. 

    “We look forward to scaling up this ecosystem by leaps and bounds in the coming months with more like-minded partners,” said Tony Navin, Senior Vice President, Partnerships and strategic initiatives.

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  • India eCommerce to lead BRICs

    India eCommerce to lead BRICs

    India – not China – is set to become the fastest growing B2C eCommerce market of the BRIC countries in the next five years.

    A new publication by Germany-based secondary market research expert yStats.com India B2C eCommerce Market 2015 also reveals the main challenges faced by online retail in this country, including underdeveloped logistics and low credit card penetration.

    The rapid growth of B2C eCommerce in India is driven by a combination of its vast population, increasing internet penetration and the scarcity of organised retail – especially in small towns and rural areas.

    “Next year, India is predicted to top the USA to become the second largest country worldwide in terms of the number of Internet users, behind China. While China has been the leader among the BRIC markets in terms of online retail growth in the five years to 2014, during the next five-year period India is predicted to take over this position,” says the report.

    Online retail in India has much room for growth. B2C eCommerce share of total retail sales was estimated at less than one per cent in 2014, while the share of internet users making purchases online was below one quarter. Another sign of immaturity is the high share of online travel in total eCommerce sales, reaching close to two-thirds according to some estimates. Furthermore, Internet penetration on the 1.3 billion population in India was relatively low in 2014, although showing an improvement from a single digit figure in 2010.

    “The spread of mobile Internet is expected to especially benefit the state of connectivity in this country, while also driving mCommerce sales up,” said the report.

    Apart from low Internet penetration, some major challenges faced by B2C eCommerce in India include underdeveloped logistics infrastructure and low credit card penetration. Online merchants’ profitability suffers from the necessity of accepting cash on delivery and offering free shipping.

    The top three eCommerce companies in the country – Flipkart, Snapdeal and Amazon India – developed their own logistics capabilities using recently obtained investment. Other eCommerce players that benefited from investment pouring into the Indian market include marketplace operator ShopClues, online classifieds website Quikr and online accommodation booking website Oyo Rooms.

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  • Authorities turns down FDI in retail e-commerce

    Authorities turns down FDI in retail e-commerce

    The Union authorities won’t ease overseas direct funding (FDI) guidelines for digital commerce.

    Minister of State for Commerce and Business Nirmala Sitharaman final month met executives of Flipkart andSnapdeal and representatives from the Confederation of Indian Business (CII) and the Federation of Indian Chambers of Commerce and Business (Ficci) to evaluate the impression of FDIon Indian e-commerce corporations.

    The assembly spawned hypothesis that the Nationwide Democratic Alliance (NDA) authorities may permit overseas e-commerce corporations to function in India. New Delhi can also be underneath strain from Washington and Tokyo to chill out its FDI coverage for e-commerce.

    “B2B (business-to-business) is one of the best coverage. We’ll simply not permit B2C (business-to-consumer). India strongly believes that B2C is towards the buyer’s curiosity. If China and Japan haven’t opened up, why ought to we?” a prime official with the division of commercial coverage and promotion (DIPP) informed Enterprise Normal.

    Extra conferences on playing cards
    Throughout Sitharaman’s assembly a number of the factors that emerged have been permitting FDI in e-commerce would face assault from small retailers and the market can be flooded with imported items. Sitharaman deliberate to carry extra conferences on this problem, the official stated.

    The NDA authorities needs the ‘Make in India’ marketing campaign to achieve success earlier than opening up B2C e-commerce to overseas retailers. In addition to, Indian business just isn’t enthusiastic concerning the transfer.

    In a illustration to the DIPP, the CII said overseas corporations must be allowed after Indian e-commerce gamers had acquired the power to tackle the competitors. The chamber sought safeguards for Indian corporations like native sourcing, privateness, security towards tax evasion and checking e-wastage.

    At current, 100 per cent FDI is allowed in business-to-business (B2B) e-commerce, whereas it’s banned within the business-to-consumer (B2C) phase. Apart from, there’s a 30 per cent native sourcing rule for overseas gamers.

    Market set off
    Giant Indian e-commerce corporations like Flipkart and Snapdeal have grown considerably since their inception in 2007 and 2010, respectively. International e-commerce giants like Amazon can function in India beneath the marketplace mannequin. In some instances, overseas gamers have tied up with native corporations to enter the Indian market.

    In response to a report by Technopak, the adoption of market fashions by e-tailers is fuelled principally by enterprise scalability and FDI coverage compliance.

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  • Snapdeal partners with IndiVillage to create rural employment opportunities

    Snapdeal partners with IndiVillage to create rural employment opportunities

    Snapdeal.com, India’s online marketplace has entered into a partnership with IndiVillage – a social enterprise that works on creating economic opportunities for women and youth in rural India. Under the partnership, sellers on Snapdeal can cost effectively outsource their imaging tagging, transcription and content development for product descriptions to IndiVillage , hence creating significant rural employment and skilling opportunities.

    IndiVillage runs a rural business process outsourcing (BPO) where it provides training and employment on information technology functions like data entry operations, online cataloguing, content management, image tagging and transcription services among others. 100 percent of the profits are reinvested for holistic community development including skill centres for women, schools etc. With strength of over 40 people, 70 percent of them being women, the rural BPO offers both full time and part time employment.

    “We are constantly looking at partnerships that let us marry our business goals while creating quantum impact for our country and society. Rural India has immense talent in very large numbers that can be unlocked by companies like ours and thus, giving us the opportunity to make our growth story more inclusive,” said Kunal Bahl, co-Founder & CEO, Snapdeal.com.

    “The rural youth wait for their fair share of opportunity after three decades of Indian urban success. India has 600,00 villages and all we need is 600,000 entrepreneurs to each adopt a village. What we look for is chance, not charity. We are the pioneers of adopting a virtuous cycle that feeds itself from enable, earn to empower. We believe that participation from a young technology leader like Snapdeal will intensify the cause of digital inclusion and community development in rural India,” said Ravi Machani, Founder & CEO, IndiVillage.

  • Snapdeal makes it to the top 10 employers’ club in retail

    Snapdeal makes it to the top 10 employers’ club in retail

    Snapdeal has become the first e-commerce company in India to enter the best employers’ club. The latest survey by Great Place To Work Institute India, in partnership with Retailers Association of India, has put the New Delhi-based firm among the top 10 employers among retailers. The other nine companies in the list are traditional brick and mortar retailers.

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  • Snapdeal gains a lot of weight, turns 5

    Snapdeal gains a lot of weight, turns 5

    After doing USD2 billion gross merchandise value of sales last year, Snapdeal seeks to hit USD3 billion in the next two months; Its seller base has grown to 100,000, from 1,000 in 2012.

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