What is SnapDeal? SnapDeal Review

introduce

Snapdeal sells over 2,500 products every day, has the widest assortment of 3,500+ products, 800+ products and is available from over 125,000 locations. With millions of users and over 300,000 sellers, Snapdeal is the online shopping site for internet users across the country, serving over 6,000 towns in India. In its journey so far, Snapdeal has partnered with several large global investors and individuals such as SoftBank, BlackRock, Temasek, Foxconn, Alibaba, eBay Inc., Premji Invest, Intel Capital, Bessemer Venture Partners, Mr. Ratan Tata, etc.

Advantages of opening a store on Snapdeal

No fee required to open a store

More customer resources

24-hour order reception

Any work location

Snapdeal Plus helps sellers with packaging & shipping

Dedicated team to help take product photos

Provide free online training for sellers

0 marketing cost

Product Diversification

Note: Currently, individuals cannot directly become sellers on Snapdeal. Only companies that are manufacturers, wholesalers, distributors, and retailers are allowed to join.

Main Products

Mobile Phones & Accessories/TV Audio & Video/Memory Cards/Computers/Cameras/Fashion Accessories/Clothing/Home Appliances/Kitchen Utensils/Toys/Games/Home Furnishings, etc.

Hot-selling categories include: mobile phones and tablets, electronic products, computers and friendship, home, and kitchen series.

Platform Commission

When you choose a selling category, you will be told the corresponding commission ratio. After the seller's store places an order, the Snapdeal platform will automatically deduct the commission service fee and transfer it to the account.

Snapdeal official support: When selling on Snapdeal, the platform can provide promotion and marketing support, advertising support, seller store templates, OC+ partners can speed up order processing, CA services can help sellers register and shoot products, etc.

Entry requirements

According to Snapdeal's entry requirements, individuals cannot directly become sellers at present. Only companies that are manufacturers, wholesalers, distributors, and retailers are allowed to enter.

1. Conditions for entry:

· allowed to be sold in India;

The products sold are new and genuine products;

· Any of the following: manufacturer, wholesaler, distributor, retailer.

2. Information and materials required for registration:

·Permanent Tax Identification Number (PAN)

Goods and Services Tax Number (GSTIN)

Bank account

After the required information and all necessary documents have been reviewed and approved, sales can begin.

3. Fees required to deliver the platform for each successful transaction:

Trading commission

·freight

·GST

Financing

In January 2011, SnapDeal received its first funding worth $12 million from Nexus Venture Partners and Indo-US Venture Partners.

In July 2011, it received another round of financing worth $45 million from Bessemer Venture Partners and existing investors.

Snapdeal raised $133 million in funding in February 2014. The round was led by eBay, with participation from institutional investors at the time: Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital, and Saama Capital.

In May 2014, India's e-commerce website Snapdeal received US$100 million in financing from investors including Singapore's state-owned investment company Temasek Group and asset management company BlackRock.

In October 2014, SoftBank invested USD 647 million, becoming Snapdeal's largest investor to date.

In August 2015, Snapdeal received a new round of financing of US$500 million from investors including Alibaba, Foxconn and SoftBank Group.

In February 2016, Indian e-commerce website Snapdeal completed a round of financing of US$200 million, led by the world's largest pension institution, the Ontario Teachers' Pension Plan of Canada, and Singapore investment company Brother Fortune Apparel.

In May 2017, Snapdeal announced that it had received 1.133 billion rupees (about 17 million US dollars) in financing from its existing investor Nexus Venture Partners and the company's co-founders Kunal Bahl and Rohit Bansal.

Acquisitions

In 2010, Snapdeal acquired the group buying website Grabbon.

In May 2016, Snapdeal acquired TargetingMantra, a personalized e-commerce marketing service platform, which enabled it to manage the product life cycle in a unified manner through big data analysis.

In 2012, Snapdeal acquired the sports products retail website esportsbuy.com.

In 2013, Snapdeal acquired Shopo.in, an online shopping site for handmade products.

In April 2014, Snapdeal acquired the fashion shopping guide website Doozton and entered the fashion e-commerce field.

In December 2014, Snapdeal acquired Wishpicker, an intelligent gift recommendation platform, in an attempt to help sellers connect with buyers in new ways.

In March 2015, Snapdeal acquired Exclusively.com, a high-end fashion online retail platform, to expand its luxury goods business.

In March 2015, Snapdeal acquired e-commerce management company Unicommerce to enhance Snapdeal's management capabilities in all aspects from suppliers to inventory, from warehouses to distribution and returns.

In April 2015, Snapdeal announced the acquisition of Internet financial platform RupeePower. Snapdeal's financial services business now includes personal loans, education loans, credit cards, car loans, housing loans and other areas.

In April 2015, Snapdeal acquired mobile payment platform FreeCharge to strengthen its mobile payment capabilities.

In June 2015, Snapdeal acquired mobile payment company Letsgomo Labs to improve its mobile payment capabilities.

In August 2015, Snapdeal acquired Silicon Valley mobile data company Reduce to strengthen its mobile data and advertising platform.

In May 2016, Snapdeal acquired TargetingMantra, a personalized e-commerce marketing service platform, and has since been able to uniformly manage the product life cycle through big data analysis.

In August 2016, logistics company Pigeon Express acquired a 51% stake in GoJavas, in which Snapdeal holds a 49% stake.

In May 2017, Snapdeal announced that it had received 1.133 billion rupees (about 17 million US dollars) in financing from its existing investor Nexus Venture Partners and the company's co-founders Kunal Bahl and Rohit Bansal.

References

• 1. Indian e-commerce platform Snapdeal is looking for investment in China: Baijiahao [cited on 2019-05-15T16:00:00.000Z]