Snapdeal targets 1 billion dollars sales by FY'15

One of India’s largest online retailers Snapdeal is targeting sales of over 1 billion dollars (over Rs 6,000 crores) by March 2015 riding

on the back of growth being witnessed by the e-commerce segment. The company expects to close the current fiscal with over 500 million dollars (over Rs 3,000 crores) in sales.

While the platform has been witnessing growth across categories but according to the company, segments like electronics and apparel are doing extremely well compared to other categories. Launched in February 2010, Snapdeal has seen rapid growth in the last three years and claims to have over 20 million members. It offers products across over 500 product categories through 20,000 sellers and delivers to more than 4,000 cities in the country.

With a strong workforce of over 1,000 people, Snapdeal is backed by global investors like eBay, Intel Capital, Bessemer Venture Partners, Nexus Venture Partners and IndoUS Venture Partners. It is also looking at listing on the US share market in the next two years. The company has also announced partnership with Taiwanese firm Oplus Technology to exclusively sell the product on its platform. Oplus will sell its tablet -- XonPad7 -- exclusively through Snapdeal for Rs 9,990.