What is Snapdeal? Snapdeal Review, Features

Snapdeal is a well-known e-commerce platform in India, selling more than 2,500 products every day. Snapdeal was founded in 2010 as a discount website at first, and later developed into a complete e-commerce portal. The Indian e-commerce platform Snapdeal is known as the "Indian version of Alibaba."

About Snapdeal

Snapdeal has the widest selection of 30 million products across 800 different categories from over 125,000 regional, national and international brands and retailers. With millions of users and over 300,000 sellers, it serves over 3,000 towns in India.

· Snapdeal has investments from many investment institutions, such as Japan's SoftBank and eBay. Now that Amazon's Indian site has been launched and has a strong momentum of development, some people believe that Snapdeal's position as the second largest e-commerce platform in India is likely to be replaced by Amazon's Indian site. But in fact, as a local e-commerce platform in India, Snapdeal is indeed slightly inferior to Amazon in strength, but after all, its own people can better identify with its own points and are more likely to gain a high degree of recognition.

Category

Categories include mobile phones and accessories/TV audio and video/memory cards/computers/cameras/fashion accessories/clothing/home appliances/kitchenware/toys/games/home furnishings, and hot-selling categories include mobile phones and tablets, electronic products, computers and friendship, home furnishings, and kitchen series. A big highlight of Snapdeal is that it will also display the popular search categories that have been on the rise in recent times under the product categories on the left side of its webpage, helping sellers to develop high-quality sources in a timely manner.

Store advantages

No fees required to open a store;

More customer resources;

·Receive orders 24 hours a day;

·No restrictions on work location;

Snapdeal Plus helps sellers handle packaging & shipping;

·A dedicated team helps take product photos;

Provide free online training for sellers;

·0 marketing cost;

Product diversification.

Official Support

When selling on Snapdeal, the platform can provide promotion and marketing support, advertising support, seller store templates, OC+ partners can speed up order processing, CA services can help sellers register and shoot products, etc.

Entry requirements

It is understood that currently individuals cannot directly become sellers. Only companies that act as manufacturers, wholesalers, distributors, and retailers are allowed to enter.

1. Conditions for entry:

· allowed to be sold in India;

The products sold are new and genuine products;

· Any of the following: manufacturer, wholesaler, distributor, retailer.

2. Information and materials required for registration:

·Permanent Tax Identification Number (PAN) of the company;

Goods and Services Tax Number (GSTIN);

Bank accounts.

After the required information and all necessary documents have been reviewed and approved, sales can begin.

3. Fees required to deliver the platform for each successful transaction:

Transaction commissions;

·freight;

GST: Snapdeal was connected to India’s GST system in 2017. After filling in the GSTIN code to verify the seller’s information, the seller can go online immediately.

Settlement process

1. Click here to enter the seller registration page and enter the GST number:

2. Fill in the company name, email address and password, mobile number, pin code, company PAN code, VAT tax number as shown below, and click sell now:

3. Next, you will receive a verification email in your mailbox. Fill in the verification code in the email and click verify email address.

4. Then fill in the company information and category as required, and click next to proceed to the next step:

5. Select the product category you want to sell (you can select multiple categories), and click Next again:

6. Then the business details, fill in the CST, GSTIN code and other required items as required and proceed to the next step:

7. You must fill in the correct information in the Bank details column, otherwise it will directly lead to failure of the account review. After filling in, click Submit. The page will jump to the registration completion page and tell you that they will complete the information review within two working days.

Financing

In January 2011, SnapDeal received its first funding worth $12 million from Nexus Venture Partners and Indo-US Venture Partners.

In July 2011, it received another round of financing worth $45 million from Bessemer Venture Partners and existing investors.

Snapdeal raised $133 million in funding in February 2014. The round was led by eBay, with participation from institutional investors at the time: Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital, and Saama Capital.

In May 2014, India's e-commerce website Snapdeal received US$100 million in financing from investors including Singapore's state-owned investment company Temasek Group and asset management company BlackRock.

In October 2014, SoftBank invested USD 647 million, becoming Snapdeal's largest investor to date.

In August 2015, Snapdeal received a new round of financing of US$500 million from investors including Alibaba, Foxconn and SoftBank Group.

In February 2016, Indian e-commerce website Snapdeal completed a round of financing of US$200 million, led by the world's largest pension institution, the Ontario Teachers' Pension Plan of Canada, and Singapore investment company Brother Fortune Apparel.

In May 2017, Snapdeal announced that it had received 1.133 billion rupees (about 17 million US dollars) in financing from its existing investor Nexus Venture Partners and the company's co-founders Kunal Bahl and Rohit Bansal.

Acquisitions

In 2010, Snapdeal acquired the group buying website Grabbon.

In May 2016, Snapdeal acquired TargetingMantra, a personalized e-commerce marketing service platform, which enabled it to manage the product life cycle in a unified manner through big data analysis.

In 2012, Snapdeal acquired the sports products retail website esportsbuy.com.

In 2013, Snapdeal acquired Shopo.in, an online shopping site for handmade products.

In April 2014, Snapdeal acquired the fashion shopping guide website Doozton and entered the fashion e-commerce field.

In December 2014, Snapdeal acquired Wishpicker, an intelligent gift recommendation platform, in an attempt to help sellers connect with buyers in new ways.

In March 2015, Snapdeal acquired Exclusively.com, a high-end fashion online retail platform, to expand its luxury goods business.

In March 2015, Snapdeal acquired e-commerce management company Unicommerce to enhance Snapdeal's management capabilities in all aspects from suppliers to inventory, from warehouses to distribution and returns.

In April 2015, Snapdeal announced the acquisition of Internet financial platform RupeePower. Snapdeal's financial services business now includes personal loans, education loans, credit cards, car loans, housing loans and other areas.

In April 2015, Snapdeal acquired mobile payment platform FreeCharge to strengthen its mobile payment capabilities.

In June 2015, Snapdeal acquired mobile payment company Letsgomo Labs to improve its mobile payment capabilities.

In August 2015, Snapdeal acquired Silicon Valley mobile data company Reduce to strengthen its mobile data and advertising platform.

In May 2016, Snapdeal acquired TargetingMantra, a personalized e-commerce marketing service platform, and has since been able to uniformly manage the product life cycle through big data analysis.

In August 2016, logistics company Pigeon Express acquired a 51% stake in GoJavas, in which Snapdeal holds a 49% stake.