Anand Piramal Invests in Snapdeal
By MYBRANDBOOK
When the going gets tough, the tough gets going and now, Kunal Bahl and Rohit Bansal,Co-founder of Snapdeal will have a fresh breath they have received investment from Anand Piramal in the struggling times ,which have also felt by the global e-commerce giantsoperating in India including Flipkart and Amazon.
It is absolutely true that, one has to understand how to do business in India by touching the heart of Indian. With the announcement of Anand Piramal, Executive Director of the Piramal Group has invested undisclosed amount in Snapdeal, on his personal capacity. With this Snapdeal will start the strategy 2.0.
The development also comes just a month after Snapdeal’s acquisition talks with ShopClues fell through. One of the challenges Snapdeal faces is losing out on tech talent. After the merger with Flipkart fell through, the company went through a series of changes as part of its ‘Snapdeal 2.0’ vision and scripted a turnaround.
The need of the hour is on how to differentiate the business model, with a sharp focus on value-priced merchandise – the largest segment in retail as they are the leading player in this field by bringing the relevant selection online for its customers at the right prices and creating a purchase experience that is similar to how India shops offline in the bazaars of India.
Commenting on the investment decision in Snapdeal, Anand Piramal said, “Snapdeal’s sharp execution in bringing a great selection to the mass market segment in tier 2-3 cities has been quite successful, leveraging the growing Internet penetration in these geographies. Since 2017, Snapdeal’s revenues have grown rapidly with profitable unit economics. With hundreds of millions of first-time e-commerce buyers yet to transact, Snapdeal is well poised to grow in the future.”
BREAKING NEWS
TECHNO TRENDS
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
Clover Infotech appointed Subham Banerjee as CDO
Clover Infotech has announced the appointment of Subham Banerjee as its Ch
Saviynt ropes in Sanjeevi Kumar as new Sales Director in India
The cloud-native identity and governance platform solutions provider Saviy
OPEN YOUR EYES
INTERVIEWS
InstaSafe’s growth has always been determined by its custome
With the epidemic, India became a major global market, and in the years 202
ETEK building a cybersecurity aware community
ETEK is a Global Managed Security Services expert with 30 years of experien
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
TEJAS NETWORKS INDIA PVT. LTD.
LAVA INTERNATIONAL LTD.
DIGISOL SYSTEMS LTD.
HIMACHAL FUTURISTIC COMMUNICATIONS LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Harsh Jain
Harsh Jain is an Indian Entrepreneur, the co-founder and CEO of the In...
Technology Icons Of India 2023: Aalok Kumar
Aalok continues to lead the India business and further strengthen Indi...
Technology Icons Of India 2023: Sachin Bansal
Sachin Bansal’s fintech startup, Navi Technologies, simplifies loan ...
PARTNER SPEAKERS
PSU
BEL leveraging next generation technologies to keep the country ahead in Defence space
Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry ...
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
BSE provides highly secure, efficient and transparent market for trading
BSE (formerly known as Bombay Stock Exchange Ltd.) is Asia's first & t...
VIDEOS
Top 25 Brands
Value-Added Distribution
SATCOM INFOTECH PVT. LTD.
Satcom Infotech Pvt. Ltd is a distribution houses in security in India...
NETPOLEON SOLUTIONS
Netpoleon Group is a Value-Added Distributor (VAD) of Network Security...
R P TECH INDIA
R P Tech is recognized for its diverse products portfolio, value-add...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
