Sep 18, 2019
Today on the show, we have Kunal Bahl and Rohit Bansal, co-founders of Snapdeal. Snapdeal is India's leading online marketplace. The company started out as a flash deal website in 2010, soon evolved into a leader of India's e-Commerce sectors. In early 2017, it was on the verge of being merged to its biggest rival Flipkart, then upgraded itself to Snapdeal 2.0, with a focus on the value-conscious buyers in India. Over the last couple of years, with this focus, the company has seen a significant and positive transformation. As of July 2019, the month this interview is conducted, the company has increased its annual revenue by 70% and cut its loss by 70% comparing to last year.
The two co-founders of Snapdeal are high school friends bonded over
food and math. Kunal graduated from the University of Pennsylvania
with two bachelor's degrees in Business and Engineering. While
studying in the United States, he also started
a detergent company and
worked to sell his product at Walmart stores. Rohit graduated from
the Indian Institute of Technology New Delhi with a bachelor and a
master's degree in computer science, India's top engineering
school.
On this episode, we covered the behind the scene story of their
decision in saying No to Flipkart, focusing on the 400 million
value-conscious buyers in India, navigating substantial change in
high transaction velocity business, building a culture of acute
intellectual honesty, and going through the best and worst of doing
business alongside of your best friends in high school.
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