Snapdeal announced a new success-linked advertising option for sellers and revealed that Anand Piramal has invested in the company in his personal capacity.
Anand Piramal praised Snapdeal’s focus on value-priced products and its strong presence in Tier 2 and Tier 3 cities, highlighting the company’s role in helping small businesses grow through e-commerce. Kunal Bahl said the investment reflects confidence in Snapdeal’s turnaround strategy and business growth.
The company reported strong financial performance for FY 2018-19:
- Revenue increased by 73% to INR 925.3 crore
- Losses reduced by 71% to INR 186 crore
- Marketplace traffic grew 2.3 times to 70 million monthly users
- Transacting users doubled over the year
Snapdeal stated that over 80% of its users come from smaller towns and cities, making value-focused e-commerce its core strategy. Over the last two years, the platform added more than 60,000 sellers and 50 million new product listings, taking its seller base to over 500,000 with more than 200 million listings.
