Back in 2008, Snapdeal was better known by its legal name Jasper Infotech Pvt Ltd—Snapdeal wasn’t even an internet firm then.
Kunal Bahl and Rohit Bansal, classmates at Delhi Public School, founded Jasper to help retailers get rid of excess inventory through discount coupons. Their first product was a printed book of coupons called ‘MoneySavers’ which used to be sold in stores for Rs 400. In January 2010, Snapdeal was launched to sell daily deals online. The model did not create ripples.
Bahl and Bansal made their boldest decision in 2012 when they decided to pivot and make Snapedeal an e-commerce marketplace. Circa 2015, Snapdeal is slugging it out with Flipkart for the top e-commerce giant’s tag. Snapdeal has the backing of Alibaba, SoftBank and Foxconn besides a host of other investors, to realise this dream.