Unicorns 25/229 – Snapdeal
Founders: Kunal Bahl , Rohit Bansal
Key people: Kunal Bah (CEO), Rohit Bansa COO)
Number of employees: ~5,000
Snapdeal is an Indian e-commerce company based in New Delhi, India. The company was started by Kunal Bahl, a Wharton graduate as part of the dual degree M&T Engineering and Business program at Penn, and Rohit Bansal, an alumnus of IIT Delhi in February 2010. Snapdeal currently has 275,000 sellers, over 30 million products and a reach of 6,000 towns and cities across the country.
Investors in the company includ e SoftBank Corp, Ru-Net Holdings, Tybourne Capital, PremjiInvest, Alibaba Group, Temasek Holdings, Bessemer Venture Partners, IndoUS Ventures, Kalaari Capital, Saama Capital, Foxconn Technology Group, Blackrock, eBay, Nexus Ventures, Intel Capital, Ontario Teachers’ Pension Plan, Singapore-based investment entity Brother Fortune Apparel and Ratan Tata. Snapdeal acquired FreeCharge for $400 million.
Snapdeal was started on 4 February 2010 as a daily deals platform, but expanded in September 2011 to become an online marketplace. Snapdeal has grown to become one of the largest online marketplace in India offering an assortment of 10 million products across diverse categories from over 100,000 sdfsellers, shipping to more than 5,000 towns and cities in India. In March 2015, Snapdeal brought actor Aamir Khan for the promotion of its website in India.