According to a PTI report: Snapdeal, which is locked in an intense battle with rivals, Flipkart and Amazon, had started re-hauling its machinery last year and hopes to make returns on the investments starting this year.
“In 2016, we have made great progress on achieving that balance (between economics and experience)… In 2017, the focus will continue to be on economics, experience and growth. Just that (now), you should expect us to press the pedal harder on growth,” Bahl was quoted by PTI as saying.
Founded in 2010 by Kunal Bahl and Rohit Bansal as a deals site, Snapdeal is backed by investors like Alibaba Group, SoftBank, Foxconn and Ratan Tata. It is estimated to have raised over US $1.7 billion so far in multiple funding rounds.
It has also strengthened its operations through acquisitions, buying/investing in companies like GoJavas and PepperTap.