Our Startups

Snapdeal

An Indian online marketplace that offers daily deals on products such as mobiles, electronics, apparel, and accessories. It takes the company to raise a total amount of $1.78B in funding to become the 3rd most funded startup in India.

Number of Employees
1000
Headquarter
Bengaluru, India
Industry
Ecommerce
Founded In
2007
Snapdeal

About Snapdeal

What does Snapdeal do?

Snapdeal Pvt Ltd. is an Indian electronic commerce company based in Bengaluru, India. Founded by Sachin Bansal and Binny Bansal in 2007, the company initially focused on book sales, before expanding into other product categories such as consumer electronics, fashion, and lifestyle products.

The service competes primarily with Amazon's Indian subsidiary, and the domestic rival Snapdeal.[5][6] As of 2017, Flipkart held a 39.5% market share of India's e-commerce industry.[7] Flipkart is significantly dominant in the sale of apparel (a position that was bolstered by its acquisitions of Myntra and Jabong.com), and was described as being "neck and neck" with Amazon in the sale of electronics and mobile phones.[8] Flipkart also owns PhonePe, a mobile payments service based on the Unified Payments Interface (UPI).

In August 2018, U.S.-based retail chain Walmart acquired a 77% controlling stake in Flipkart for $16 billion USD.

History of Snapdeal

Snapdeal's Startup Story

Snapdeal Pvt Ltd. is an Indian electronic commerce company based in Bengaluru, India. Founded by Sachin Bansal and Binny Bansal in 2007, the company initially focused on book sales, before expanding into other product categories such as consumer electronics, fashion, and lifestyle products.

The service competes primarily with Amazon's Indian subsidiary, and the domestic rival Snapdeal.[5][6] As of 2017, Flipkart held a 39.5% market share of India's e-commerce industry.[7] Flipkart is significantly dominant in the sale of apparel (a position that was bolstered by its acquisitions of Myntra and Jabong.com), and was described as being "neck and neck" with Amazon in the sale of electronics and mobile phones.[8] Flipkart also owns PhonePe, a mobile payments service based on the Unified Payments Interface (UPI).

In August 2018, U.S.-based retail chain Walmart acquired a 77% controlling stake in Flipkart for $16 billion USD.

The Team

Founders of

Snapdeal

Sachin Bansal

Sachin Bansal

Co-founder & CEO of Flipkart

After completion of degree Sachin Bansal joined Techspan company where he has served for few months. In 2006, he joined Amazon.com India as Senior Software Engineer. Then he got Binny Bansal into the Amazon.com and after 6 months they both decided to leave Amazon.They initially thought of starting a comparison search engine, but realized that the market for E-commerce in India was very small. Hence, after leaving Amazon in 2007, they founded Flipkart as an E-commerce company.

Sachin Bansal and his business partner Binny Bansal launched Flipkart from an apartment in Bangalore with 400,000 rupees ($6,500) cash. In 2007 during the early days of Flipkart Sachin Bansal and his business partner Binny Bansal used to deliver books across Bengaluru on their scooters and in October 2015 they showed up at the doorsteps of some customers, personally delivering goods in order to gain insights from the online buyers

Binny Bansal

Binny Bansal

Co-founder of Flipkart

Binny Bansal is an Indian software engineer and Internet entrepreneur. In 2007 he co-founded the e-commerce platform Flipkart with Sachin Bansal (not related) and was serving as the Chief Operating Officer until 11 January 2016 and was promoted to Chief Executive Officer. In January 2017 he was promoted to Group CEO of Flipkart. Binny is from Chandigarh and graduated from the Indian Institute of Technology Delhi with a degree in Computer Science and Engineering.

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