Senior Correspondent, IndianRetailer.com & Retailer Magazine May 30, 2017 / 2 MIN READ
E-commerce platform, Snapdeal has announced that it has crossed 50 million downloads mark on Google Play Store.
Rajiv Mangla, Chief Technolgy Officer, Snapdeal, said, "We have always endeavored to design features that our customers value. Through billions of daily clicks on our platforms and monthly consumer connects, we are constantly listening to our consumers’ feedback, and improving our offerings accordingly."
According to Mangla, "Achieving the milestone figure of 50 million downloads is a sign that more and more consumers are seeing value in the experience Snapdeal provide."
Flipkart, India’s largest e-commerce company, is currently undertaking its due diligence, prior to its anticipated takeover of Snapdeal, in a deal that could value the latter at between $700 million-$1 billion, and which is being orchestrated by its largest stakeholder, Japan’s SoftBank.
Recognizing the surge in preference for brand-centric, value-driven retail, Snapdeal has strategically added various lifestyle brands, catering to consumers seeking both quality and affordability.
The synergy between Agoda and Snapdeal capitalizes on the strengths of two industry giants, aiming to address the dynamic requirements of the Indian market.
ONDC’s focus on expanding the online opportunity in India and creating a more inclusive e-commerce ecosystem is well matched with Snapdeal’s focus on growing e-commerce beyond just brands and urban users.
Snapdeal was reportedly looking to raise $152 million at a valuation of about $1 billion.
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