CNBC-TV18 special show YT Disruptors takes a look at the Snapdeal story from despondency to resurgence. Kunal Bahl, co-founder and CEO of Snapdeal's talks about his journey and the challenges faced.
“We have come a long way as a company. I never thought we would be in a situation where a leading internet visionary and investor such as SoftBank would invest in Snapdeal,” said Bahl.
“I think what we are seeing superficially as the same is structurally very different in the backend where we are philosophically very clear about the business that we are in and the business we are not in. The same way as Alibaba has built an immense ecosystem that made its merchants very successful and delivered great experiences to consumers and that’s what we are trying to do,” he added.
“We believe that the winning business model especially in emerging markets like India is going to be a pure market place,” said Bahl.
“Right now we are super focused on building the largest e-commerce market place in India that can create life changing experiences for 1 million small businesses over the next 3 years,” he further added.
- Snapdeal is backed by SoftBank, Alibaba, Temasek, BlackRock and Foxconn.
- Created Snapdeal 2.0 with a single-minded focus on core business: A pure-play marketplace.
- Anand Piramal and Nexus Venture Partners are the most recent investors in Snapdeal.