E-commerce major Snapdeal.com, run by Delhi-based Jasper Infotech Pvt Ltd, has partnered with Indian automobile major Hero MotoCorp Ltd to sell its two-wheelers through its platform.
Snapdeal claims that it saw 700 two-wheelers being sold within 72 hours of launching the new category a week ago. The vehicles are priced as same as offline dealerships.
For Snapdeal, automobile is one of the most promising categories, and it expects it to reach Rs 1,000 crores in GMV in the near term.
Talking about the partnership, Tony Navin, senior vice president at Snapdeal said: "Hero is a legendary brand that has provided mobility to millions of Indians with finely engineered two-wheelers for three decades now. The astounding success of the tie-up is a testament to Snapdeal.com's pioneering efforts to bring the automobiles category on the e-com domain, which provides automobile brands instant access to 30 million users across more than 5,000 cities and towns in India."
"This is the first time we tried out the online platform for selling our bikes, and the response has been just phenomenal. Even for online customers, their satisfaction remains our top priority, and they are entitled to all the benefits of warranty and service," said A Srinivasu, head (national sales) at Hero.
Founded in 2010, Snapdeal was started as an online deals site, which later pivoted to a full-fledged horizontal e-commerce company with a marketplace model in September 2011. It claims to have 5 million-plus products across more than 500 diverse categories from thousands of regional, national, and international brands and retailers. Snapdeal has now become one of the fastest growing and among the top three online marketplaces in India, with more than 30 million registered users and more than 50,000 vendors.
In October, Japanese telecom and internet firm SoftBank Corp committed $627 million (Rs 3,846 crore) in Snapdeal.com. Its other investors include eBay, Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital, Ratan Tata, BlackRock, Temasek, Myriad Asset Management, Tybourne Capital, PremjiInvest and Saama Capital.
Snapdeal recently acquired Wishpicker.com, an online platform that offers users gift options based on intelligent recommendations, from Noida-based Wizmunk Gifting Services Pvt Ltd.