2015 was a year of milestones for e-commerce marketplace Snapdeal. The company, run by Jasper Infotech Pvt Ltd, expanded its seller base, improved performance of its sites, acquired smart assets, introduced new product categories and beefed up its top deck. Snapdeal this year ventured into the payments space through its acquisition of Freecharge and went on to raise $500 million from Foxconn, Alibaba and others.
In an interaction with Techcircle.in, Snapdeal co-founder and COO Rohit Bansal shares his thoughts on the year gone by and discusses growth plans for 2016. Edited excerpts:
How would you look back at the year 2015? Are you satisfied with the progress made by the company?
We made phenomenal progress in terms of expanding the merchant base on our platform. We now work with 200,000 merchants. Sales grew very fast this year and it was complimented by our investments in enhancing delivery experience for customers. We have reduced delivery time by 70 per cent in the last 12 months and it can be brought down even further. Snapdeal's investment in GoJavas has also helped in shrinking delivery time. We also launched our payments business which is doing really well. Freecharge has clocked 10 million mobile wallet users in a short span of time. The Freecharge acquisition was a major milestone for Snapdeal this year as it enabled us to become a payments company in addition to facilitating online sale of physical products.