Founders: Kunal Bahl, Rohit Bansal
Founded: 2010
What It Did: E-commerce platform for deals, later a full marketplace
Shut Down/Status: Scaled down significantly by 2017; pivoted to niche operations after failed Flipkart merger
Founded: 2010
What It Did: E-commerce platform for deals, later a full marketplace
Shut Down/Status: Scaled down significantly by 2017; pivoted to niche operations after failed Flipkart merger
The Dream That Started It All
Kunal Bahl and Rohit Bansal, childhood friends from Delhi, launched Snapdeal in 2007 as a daily deals platform, inspired by their time at Microsoft and Wharton. They saw India’s e-commerce potential when most Indians were still skeptical of online shopping. In 2010, they pivoted to Snapdeal, a marketplace for everything from phones to furniture. Kunal, the charismatic leader, and Rohit, the analytical mind, dreamed of making Snapdeal India’s answer to Amazon. Their early days were filled with excitement, convincing small vendors to go digital and celebrating each new user.
Kunal Bahl and Rohit Bansal, childhood friends from Delhi, launched Snapdeal in 2007 as a daily deals platform, inspired by their time at Microsoft and Wharton. They saw India’s e-commerce potential when most Indians were still skeptical of online shopping. In 2010, they pivoted to Snapdeal, a marketplace for everything from phones to furniture. Kunal, the charismatic leader, and Rohit, the analytical mind, dreamed of making Snapdeal India’s answer to Amazon. Their early days were filled with excitement, convincing small vendors to go digital and celebrating each new user.
The Breakthrough Moment
The spark came when Kunal bought a discounted gadget online abroad and realized India needed a similar platform. With $1.7 billion from SoftBank, Alibaba, and others, Snapdeal soared. By 2015, it was India’s second-largest e-commerce player, valued at $6.5 billion, serving 300 million users. Stories like enabling a rural artisan to sell nationwide fueled their passion. Snapdeal’s “Dil Ki Deal” campaign captured India’s imagination, and Kunal and Rohit were hailed as startup heroes.
The spark came when Kunal bought a discounted gadget online abroad and realized India needed a similar platform. With $1.7 billion from SoftBank, Alibaba, and others, Snapdeal soared. By 2015, it was India’s second-largest e-commerce player, valued at $6.5 billion, serving 300 million users. Stories like enabling a rural artisan to sell nationwide fueled their passion. Snapdeal’s “Dil Ki Deal” campaign captured India’s imagination, and Kunal and Rohit were hailed as startup heroes.
The Fall from Glory
Snapdeal’s aggressive expansion—acquisitions like FreeCharge, heavy discounts, and massive ad spends—bled cash. By 2016, Amazon and Flipkart, with stronger logistics and funding, dominated the market. A failed $1 billion merger with Flipkart in 2017 was the final blow. Snapdeal laid off 80% of its workforce, and vendors faced delayed payments. Kunal and Rohit, once celebrated, faced criticism for strategic missteps. Snapdeal pivoted to a leaner model, but its glory days were over, a shadow of its former self.
Snapdeal’s aggressive expansion—acquisitions like FreeCharge, heavy discounts, and massive ad spends—bled cash. By 2016, Amazon and Flipkart, with stronger logistics and funding, dominated the market. A failed $1 billion merger with Flipkart in 2017 was the final blow. Snapdeal laid off 80% of its workforce, and vendors faced delayed payments. Kunal and Rohit, once celebrated, faced criticism for strategic missteps. Snapdeal pivoted to a leaner model, but its glory days were over, a shadow of its former self.
The Human Impact
Kunal and Rohit took the failure hard. “We aimed for the moon, but didn’t land softly,” Kunal said. Thousands of employees lost jobs, and vendors struggled. Yet, Snapdeal’s early success showed small businesses could thrive online, inspiring platforms like Meesho. The founders relaunched Snapdeal 2.0, focusing on value commerce, proving resilience even in defeat.
Kunal and Rohit took the failure hard. “We aimed for the moon, but didn’t land softly,” Kunal said. Thousands of employees lost jobs, and vendors struggled. Yet, Snapdeal’s early success showed small businesses could thrive online, inspiring platforms like Meesho. The founders relaunched Snapdeal 2.0, focusing on value commerce, proving resilience even in defeat.
Lessons from the Fall
- Sustainable Scaling: Growth without profitability is a trap.
- Adapt to Giants: Innovate to survive against bigger rivals.
- Care for Stakeholders: Support employees and vendors during downturns.
A Founder’s Reflection
“Snapdeal was our heart,” Rohit said. “Its struggles taught us to fight smarter, not just harder.”
“Snapdeal was our heart,” Rohit said. “Its struggles taught us to fight smarter, not just harder.”
Call to Action
Shopped on Snapdeal or faced a startup’s rise and fall? Share your story in the comments and join Untold Founders to connect with others who’ve dared to dream!
Shopped on Snapdeal or faced a startup’s rise and fall? Share your story in the comments and join Untold Founders to connect with others who’ve dared to dream!