911—The number that spooked Snapdeal

Snapdeal-Boxes_feOn Wednesday, Snapdeal founders Kunal Bahl and Rohit Bansal said they will not take salaries for an undisclosed period as the company struggles to survive. Well, that makes financial and ethical sense. It’s ethically right because it takes a large heart to admit mistakes and share the pain of employees, many of whom are losing […]

Read more

Snapdeal layoffs: In the works for months, but kept out of employees’ sight

Snapdeal_by-Junaid2For employees of India’s third-largest e-commerce firm Snapdeal, the last couple of weeks have been stressful, to put it mildly. The tension is palpable, with the HR calling everyone for a one-on-one session, a meeting that will decide whether they are headed towards the exit door or will manage to hold on to their job. […]

Read more

Snapdeal to lay off 600; founders forego salary

Jasper Infotech Pvt. Ltd, which runs Snapdeal, has decided to lay off 500-600 employees across the e-commerce marketplace and its subsidiaries, mobile wallet Freecharge and logistics wing Vulcan Express, a person aware of the development told Techcircle. The person added that the process of lay-offs has already started and will continue for “the next few […]

Read more

Snapdeal’s cost cutting continues, disbands SD Instant team

Snapdeal's cost cutting continues, disbands SD Instant teamAfter reports of Snapdeal laying off nearly 30% of its staff, co-founders Kunal Bahl and Rohit Bansal have sent out an e-mail to the e-commerce firm’s employees stating that the company has to take tough decisions in order to become profitable, a report in a national daily stated. Snapdeal has also dissolved its SD Instant […]

Read more

Kavin Mittal gets 24-fold hike in FY16

Kavin Bharti Mittal, founder, HikeKavin Bharti Mittal, CEO at Hike Ltd, received an almost 24-fold increase in compensation for 2015-16, as the messaging app expanded its operations and attracted marquee investors. Mittal received total remuneration of Rs 18.28 crore for the year through March 2016, according to the company’s annual report. This compares with the Rs 74.61 lakh he […]

Read more

Flashback 2016: Snapdeal struggles with FreeCharge poser, markdown by SoftBank

Snapdeal-by-Shah-Junaid_ASnapdeal, India’s third-largest e-commerce marketplace, had to fend off stiffer competition from larger rivals Flipkart and Amazon and endure volatility on several other fronts in a year when it had few reasons to rejoice. The year, however, had started well for Snapdeal, as it received $200 million from Canada’s Ontario Teachers’ Pension Plan and other […]

Read more

On-demand delivery startup ShadowFax raises $10 mn

ShadowFax32Hyperlocal logistics startup ShadowFax Technologies Pvt. Ltd has raised $10 million (Rs 68 crore) in Series B funding led by existing investor Eight Roads Ventures, an investment arm of Fidelity International Ltd. The investment will help Shadowfax build its network, consolidate its market position and stabilise performance in existing cities, Eight Roads said in a […]

Read more

How much stake founders Kunal Bahl, Rohit Bansal own in Snapdeal?

Kunal Bahl and Rohit BansalSnapdeal founders Rohit Bansal and Kunal Bahl together own just 6.38% of the e-commerce firm, a fourth lower than what they held in the company two years ago. CEO Bahl owns 3.94% of Snapdeal while chief operating officer Bansal holds 2.44%, according to a report by Mint on Friday, citing documents with the Registrar of […]

Read more

Snapdeal reorganises top management structure

Snapdeal_by-Junaid2Online marketplace Snapdeal, run by Jasper Infotech Pvt Ltd, has carried out a top-level reshuffle which is leading to consolidation in some of the company’s key teams such as category management, market development, and brand alliances. The development was announced in an internal email sent by Snapdeal’s co-founder and chief operating officer Rohit Bansal to […]

Read more

Century Textiles entangles Snapdeal and its founders in ‘Dhoti’ case

Court_Copyright_ThinkstockPhotos-4828287043Century Textiles and Industries Ltd has filed a case against e-commerce marketplace Snapdeal, its founders Rohit Bansal and Kunal Bahl, and KK Modi Group company Modicare Ltd in the Bombay High Court for trademark infringement of one of its products. The Mumbai-based BK Birla Group company has alleged that Modicare is selling Dhoti, a garment […]

Read more