SnapDeal.com Plans To Fuel Its Growth With US$ 20Mn

SnapDeal.com, the e-commerce company which recently pocketed US$ 40 Mn, wants to invest the amount to fuel its growth.

The company which rushed to address the water-woes of villagers feels that it should now really focus on expanding internally. Hence, it has revealed that it wants to take in additional staff. Currently, SnapDeal hires 1000 People & wants to add 500 more. The addition would be done in the areas of engineering and analytics revealed Snapdeal Chief Executive Director Kunal Behl.

Indian E-commerce field is now showing signs of maturity. Gone are the days, when entrepreneurs felt the urge to open a e-business portal & went ahead & did it. There are far more intense calculations involved now. Many early-movers have now been the victim of buy-outs. Larger companies with deep pockets now run the show. Consolidation is in the air. There’s even the Govt. Policies that need to be studied. Under such circumstances, for a company to commit  this high funds to grow means something very significant is about to happen.

SnapDeal is open to both inorganic & organic growth. That means, the company is hiring internally to grow from its own roots or can simply choose to acquire some fledglings to add to its strengths. But the company is assured of business despite difficult times as it has witnessed a whopping 90% growth in unique visitors on a monthly basis. Presently it boasts of having 15 Million users. How many are regular shoppers though?

The acquisition prospect too looks good says Behl, “We have received some proposals. We would look at companies, which offer us a good technology platform or a very good team.”

In the past SnapDeal has employed quirky advertisements to lure customers. Wonder what companies will Yamraj bring in this time?

 

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