Snapdeal is an B2C marketplace, based in New Delhi, India. The company was started by Kunal Bahl, a Wharton graduate as part of the dual degree M& T Engineering and Business program at Penn, and Rohit Bansal, an alumnus of IIT Delhi in February 2010. Snapdeal currently has 275, 000 sellers, over 30 million products and a reach of 6, 000 towns and cities across the country[2] Investors in the company include SoftBank Corp, Ru-Net Holdings, Tybourne Capital, PremjiInvest, Alibaba Group, Temasek Holdings, Bessemer Venture Partners, IndoUS Ventures, Kalaari Capital, Saama Capital, Foxconn Technology Group, Blackrock, eBay, Nexus Ventures, Intel Capital, Ontario Teachers' Pension Plan, Singapore-based investment entity Brother Fortune Apparel and Ratan Tata.[3] When Snapdeal acquired FreeCharge[4] in an equity deal, investors Sequoia Capital India, Valiant Capital, Sofina, Ru-Net Holdings, and Tybourne Capital also became shareholders in Snapdeal.In the year 2012-13, Snapdeal had said that it expected revenues of about ?600 crore ( US$89 million) . Betting big on the growth of mobile commerce, Kunal Bahl, the CEO, said at the time that 15-20 per cent of the sales on Snapdeal came through m-commerce. Snapdeal.com expected the total sale of products traded on its platform to cross ?2, 000 crore ( US$300 million) in the fiscal year 2013-14 helped by its robust growth in the past two years and the growing popularity of e-commerce in India.[31] In June 2014, Snapdeal announced that it had achieved the milestone of 1000 sellers on its platform getting sales of over Rs 1 crore.[32]
