- Meenakshi Kumar |
Snapdeal has seen its order volumes grow fourfold in the last year or so. Healthy, rejuvenated and in control of its own destiny, the online marketplace is now sailing ahead toward brighter horizons. Shifting to a smaller office with around 800 employees, and selling off its other companies (including mobile wallet FreeCharge, logistics entity Vulcan and e-commerce management company Unicommerce), has helped it to run a leaner operation but with more cash in the bank.
It has been a roller-coaster ride for Snapdeal. From a valuation of $6.5 billion to backing by global investors and employing 10,000 at its peak, the entity has seen it all. In eight years, Snapdeal converted itself from an offline deals and discounts entity to an online one. In 2012, it moved to become an online pure-play marketplace.
Snapdeal’s best bet was to go forward as an independent company —with a clear business plan, christened Snapdeal 2.0. On job cuts the firm went through, a very painful resizing was done in February 2017. From near-death to generating cash, it took a lot of courage, focus and discipline to turn the ship around. And this was achieved with a nimble 800-plus member team —in a flat, agile structure, responding in real time to external and internal needs.