Snapdeal is an online marketplace, based in New Delhi, India. The company was started by Kunal Bahl, a Wharton graduate as part of the dual degree M&T Engineering and Business program at Penn, and Rohit Bansal, an alumnus of IIT Delhi in February 2010. Snapdeal currently has 275,000 sellers, over 30 million products and a reach of 6,000 towns and cities across the country.
As per the latest information regarding the company, online marketplace Snapdeal is reportedly planning to scale down operations in its regional offices including Bangalore, Mumbai, Calcutta and Hyderabad. Earlier in January 2016, Snapdeal reported a loss of INR 1,328 Cr. on revenue of INR 938 Cr. in FY 14-15.
There however, is no confirmation regarding this from Snapdeal’s side. As per a company spokesperson,
“Snapdeal strongly denies the ET report ( dated 27 May, 2016) about Snapdeal reducing operations in any regional office, the report is baseless and misleading. We are witnessing strong growth across all our markets in the country. Our campus in Gurgaon and regional offices in 8 cities are staffed by highly experienced teams, who continue to drive excellence and growth in our business. We have recently added more members to our Mumbai and Bengaluru offices and we are in the process of doing the same at Chennai.”
However, denying the Snapdeal confirmation some of the sources aware about the development, even went on to add that, Snapdeal may even shut down a few offices in the next six months, in absence of a new round of funding.
Earlier, in February this year, Snapdeal asked 200 of its employees in its consumer service department to improve their performance or head out. The accounts and vendor management teams in Bangalore have already been cut to about 45 people from 85 people a year ago.
Well the current scenario shows that the news could be contrary to what the Snapdeal spokesperson has informed the media about.