FSSAI removes potassium bromate from permitted list
Carcinogenic agents found in bread: CSE report

Snapdeal’s galloping progress

14 Jun 2011
Snapdeal’s galloping progress
  • Snapdeal was launched in 2010 on the model of Groupon, the world's largest online deals seller.
  • The revenues of the company had been growing at 100%, selling unused inventories. It took a 35% cut for any deal from the merchant
  • Vinod Dham, a well-known silicon valley investor, along with Bazee.com co-founder, Suvir Sujan, had invested $12 million in the company

A village named 'Snapdeal'

Fact
Information

In 2011, Shiv Nagar, a village in UP, was renamed as Snapdeal. com nagar after the company installed 15 hand pumps in the village.

Business model changed from coupons to e-commerce

26 Jan 2012
 Business model changed from coupons to e-commerce
  • Within 2 years of its launch, Snapdeal changed from a group discounting website to one of the largest e-commerce sites in India.
  • Kunal Bahl, the company's CEO and co-founder said that deals could only serve as the entry point into the life of the customer.
  • Bahl stressed that Snapdeal's model was more customer centric than Groupon.

Snapdeal gets Rs 3,762 crore from Softbank

28 Oct 2014
 Snapdeal gets Rs 3,762 crore from Softbank
  • Japan based internet and telecom giant Softbank invested $627 million in Snapdeal.
  • The announcement came after Softbank told about its plans to invest $10 billion in India, marking the country as 'its top priority'.
  • Snapdeal planned to use the amount to make acquisitions in the near-future.
  • Snapdeal was also planning to open a R&D centre in Bangalore.

‘Wishpicker’ acquired by Snapdeal

11 Dec 2014
‘Wishpicker’ acquired by Snapdeal
  • Noida based tech firm wishpicker.com was acquired by Jasper Infotech, the company that runs Snapdeal.com.The transaction amount was not revealed.
  • Wishpicker's business was to suggest gifting options to users based on their personality as well as the liking of the receiver.
  • Wishpicker was formed by IIT-Delhi graduates Apurv Bansal and Prateek Rathore in 2013.

Snapdeal grew 600% in 2014, says its CEO

1 Jan 2015
 Snapdeal grew 600% in 2014, says its CEO
  • Snapdeal termed 2014 as a phenomenal year with 65% of the orders coming through mobile devices.
  • The Delhi based firm said that it emerged as one of the top five searched sites on the internet in the country in 2014.
  • Kunal Bahl, the company's CEO, said that Snapdeal had reached over 40 million people.
  • Snapdeal, as of this time, offered over 5 million products.

Snapdeal acquires FreeCharge for Rs 2,800 crore

8 Apr 2015
 Snapdeal acquires FreeCharge for Rs 2,800 crore
  • Snapdeal announced the buyout of FreeCharge for $400 million.
  • This is the largest acquisition by an Indian company. This overtakes Flipkart's $370 million acquisition of Myntra last year.
  • The combined entity will now have over 1 million mobile based transactions every day.
  • Freecharge's user base in more than 20 million.

FIR filed against Snapdeal for selling drugs

2 Jun 2015
 FIR filed against Snapdeal for selling drugs
  • Maharashtra's FDA (Food and Drug Association) filed a FIR against Snapdeal for selling prescription drugs online.
  • A FDA official ordered sildenafil citrate and emergency contraception pills from Snapdeal and got it delivered.
  • FDA raided the company's Mumbai premises last week
  • Snapdeal said it would stop online sale of prescription drugs. The FIR also named retail sellers of the drug

Snapdeal's newest acquisition: Letsgomo Labs

16 Jun 2015
Snapdeal's newest acquisition: Letsgomo Labs
  • Snapdeal has announced that it has acquired Letsgomo Labs, a mobility solutions company to enhance its mobile technology capabilities.
  • The acquisition has been done keeping in mind that 75% of Snapdeal's sales comes through mobile platforms.
  • It had recently acquired another mobile technology start-up - Martmobi as well as hired a new Chief Product Officer-Anand Chandrasekaran, to build a robust mobile commerce platform.

$500 million fresh funding for Snapdeal

19 Aug 2015
$500 million fresh funding for Snapdeal
  • Snapdeal raised $500 million in fresh funds from Chinese e-commerce firm Alibaba Group, Foxconn Technology Group and existing investor Softbank Group.
  • This transaction would value Snapdeal at more than $5 billion.
  • FIH Mobile, a unit of Taiwan's Foxconn said it was buying a 4.27% stake for $200 million.
  • On the other hand, eBay - an existing investor, sold a portion of its stake.

Snapdeal raises new round; valuation up by $2 billion

15 Feb 2016
Snapdeal raises new round; valuation up by $2 billion
  • Snapdeal has raised another $200 million or ₹1,367.6 crore, just seven months after it raised $500 million.
  • Ontario Teachers' Pension Plan, Brother Fortune Apparel and Iron Pillar were the major investors in this current round of funding.
  • With the latest round of funding the company has been valued above $6.5 billion, making it the second most valued ecommerce company in India after Flipkart.

Anand Chandrasekaran resigns as Snapdeal CPO

24 May 2016
Anand Chandrasekaran resigns as Snapdeal CPO
  • Anand Chandrasekaran, who had joined Snapdeal a year ago, has resigned as the e-commerce giant's Chief Product Officer.
  • Further details weren't revealed; also Chandrasekaran's next move is undisclosed.
  • The Stanford University alumni resigned as Airtel's CPO to join Snapdeal in June'15.
  • Bidding farewell, Snapdeal Co-founder Rohit Bansal tweeted today that he was proud of the 'super work' done by Chandrasekaran and his product team.