Main Highlights
- According to a Bloomberg report, Indian e-commerce reseller Snapdeal is exploring an initial public offering (IPO) for up to $400 million.
- Snapdeal may potentially opt to go the other way and abandon the proposal, with negotiations still in the earliest stages.
- Snapdeal aims to develop the most trustworthy, friction-free business environment in India to provide consumers and sellers with life-changing experiences.
- Snapdeal is a shopping destination for internet users around the country, providing services for over 6,000 cities and cities in India with millions of customers and over 300,000 vendors.
According to a Bloomberg report, Indian e-commerce reseller Snapdeal is exploring a public initial offer (IPO) for up to $400 million and joining a growing list of companies in India that are trying to enter financial markets. The Indian start-up ecosystem looks to flourish following the successful food supply aggregator Zomato’s successful IPO — the Nykaa cosmetic market, PolicyBazaar insurance platform, and the Paytm significant fin-tech.
Additional new-age technology companies are rumored to be searching for an IPO path, including PhonePe, MobiKwik, Grofers, Flipkart, and Delhivery. The Bloomberg article claimed that Snapdeal, the investor group of SoftBank Group, should be talking about the prospective IPO in Mumbai already next year and an assessment of up to $2.5 trillion citing developments. However, Snapdeal may potentially opt to go the other way and abandon the proposal, with negotiations still in the earliest stages.
Snapdeal based in Delhi formerly was, in addition to Flipkart and Amazon India, one of India’s top three e-commerce actors. Launched in 2010, it promises to sell more than 60 million items to clients across 800 categories and distribute them to more than 6,000 Indian locations.
Snapdeal’s Goal
Snapdeal aims to develop the most trustworthy, friction-free business environment in India to provide consumers and sellers with life-changing experiences. Snapdeal.com, India’s largest online marketplace, was launched by Kunal Bahl and Rohit Bansal in February 2010, with the broadest range of 60 million-plus items across 800 categories, including regional, national, and worldwide retail brands.
Snapdeal is a shopping destination for internet users around the country, providing services for over 6,000 cities and cities in India with millions of customers and over 300,000 vendors. Snapdeal has collaborated up to now with a number of global market investors, including SoftBank, BlackRock, Temasek, Foxconn, Alibaba, eBay Inc., Premji Invest, Intel Capital, Bessemer Venture Partners, etc.
Snapdeal’s Platform
Snapdeal has become one of India’s major internet markets. The concentration of Snapdeal is in the e-commerce value category, a market three times the size of the branded products industry. Sellers on Snapdeal provide good quality products, like those which would be sold on local markets and high roads in the city.
The quality of goods is the same as that of local/regional / branded sellers on local marketplaces. The bulk of items offered by over 500,000 independent Snapdeal platform sellers are fashion, home, and general retail. Snapdeal’s shops represent buyers from more than 3,700 cities around India— 92% of India’s total 4,000 cities and cities.
The latter sold a majority interest to Walmart in its fight against Amazon India, after a possible combination between Snapdeal and Flipkart had not occurred. Then Flipkart purchased Walmart India and opened an online platform for wholesale products – Flipkart Wholesale.
The fast swelling unicorn in the startup ecosystem has recently been proposed by new research, with approximately 18 major start-ups hitting primary markets to raise $11-12 billion over the next 24 months. The company’s sales have been booming.
The start-up companies have generated around 60 unicorns with an assessment of $1 billion or more, 20 of which alone this year. Other studies anticipate that the number of startups will reach the hundredth level this year.
