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
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
MATRIX COMSEC PVT. LTD.
CENTRE FOR DEVELOPMENT OF TELEMATICS (C-DOT)
VERSA NETWORKS INDIA PVT. LTD.
TALLY SOLUTIONS PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Anil Agarwal
Anil Agarwal, the Founder and Chairman of Vedanta Resources Ltd., is r...
Icons Of India : AALOK KUMAR
Aalok Kumar is celebrated as a global leader and recipient of the Peop...
Icons Of India : Dr. Sanjay Bahl
Dr. Sanjay Bahl has around four decades of experience in the ICT indus...
PARTNER SPEAKERS
PSU
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
GSTN - Goods and Services Tax Network
GSTN provides shared IT infrastructure and service to both central and...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
Indian Tech Talent Excelling The Tech World - NEAL MOHAN, CEO - Youtube
Neal Mohan, the CEO of YouTube, has a bold vision for the platform’s...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
