E-trailer website SnapDeal which is one of the leading online shopping sites in India have risen rapidly from $2 billion to $4.7 in just one year but what follows is not so pleasant.
The Delhi based company has incurred a loss up to 5 times the previous year.
Much to cover it up, the site has been putting up sales and attractive discounts to pull the buyers and companies with big, fat valuations.
It’s not just SnapDeal alone, other leading e-tailers have been seen in similar crisis. Amazon has a net loss of Rs 320 crore after its first year of operation and Flipkart has around ?400 crore incurred to its name. (According to filings with Registrar of Companies)
While these figures rise the eyebrows, here a larger jolt, SnapDeal’s loss statists from Rs 270 crore in March 2014 to Rs 1350 crore in Match 2015, as per the data collected by TOI from the Hong Kong Exchange.
SnapDeal stands première and also equals to combined losses of ?1000 crore as far as the above two biggies are concerned.
Tags: Snapdeal
