India’s eCommerce market is undergoing an interesting phase. They are raising million dollar findings, trying out innovative ways to win customers, offering ‘unbelievable’ deals and what not. Amid all this, they are also trying to overthrow the competition and become the leaders in the eCommerce market place. Snapdeal, is one such brand. Recently it was in news for raising $500 million funds with help from Taiwan’s Foxconn, China’s Alibaba Group and existing backer Japan’s SoftBank. And now, Snapdeal CEO Kunal Bahl has openly declared war against Flipkart. In anexclusive interview to Economic Times, Bahl said that he is looking forward to overthrow Flipkart and become India’s largest online electronic marketplace.
Bahl declined to give a projection of Snapdeal’s total sales for this fiscal year, but credited the company’s recent $400-million acquisition of payments platform FreeCharge and its undisclosed investment in logistics venture GoJavas as being prime drivers of growth. Snapdeal’s investments have been part of its ambitious strategy to build a comprehensive ecommerce ecosystem offering everything from products to financial services and having the infrastructure to meet demand — crucial especially as the festive season kicks off, providing a major battleground for online retailers. “This Diwali our plans are mega,” said Bahl.
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