A Fiery Snapdeal Head Defends His Company Amidst M&A Speculation
“Snapdeal - Made of Steel.” Head of strategic partnerships at Snapdeal writes to the world, “Heads down, we continue the work at Snapdeal, open for business and partnerships!”
Photo Credit : CNN,
Vibhu Arya, the Snapdeal head of strategic partnerships for ecommerce, epayments and digital content has written on LinkedIn to dispel fears and speculation so reinforced it’s almost like the truth.
Among the SDians (SnapDeal-ians) who lauded Arya’s words were Saurabh Nigam, SVP and head of HR Human Resources at Snapdeal:
“...it’s easy to sit outside and comment on an ecosystem about which you have no clue.... its only when you have been a part of this incredible journey for last few years like you, me and many of our fellow SD'ians have been, that you realize the significance of creating something ground up against fierce competition, against all odds and doing it well - I doubt if anyone can take away the pride associated with it!”
What happens in the future no one can tell. As for writing with conviction, Arya gets an A for it. Here are excerpts of his post with comments from other readers where relevant.
“Facebook, Google, Twitter and of their ilk have zero competition, no start-up usually dares to compete with them. In 2011-12, Groupon, the global online coupon king was defeated in India by Snapdeal.com, a tiny Indian start-up with home made technology, small pot of capital but bold ambition and execution prowess. This is the sole example of an Indian start-up, beating a global technology giant. There is no other example before and after, let that sink in," Arya had written.
He continued, “Snapdeal had little existing technology, little remaining commitments of capital and no marketplace business know-how. Hundred percent made in India, each line of code was written from scratch, by Indian engineers, each business partnership was built afresh. Over the next five years, Snapdeal has built a fully compliant with Indian FDI laws, in both letter & spirit, a leading ecommerce marketplace, with over 300,000 small sellers from 500 cities and towns across India.
Think of Ebay, Ratan Tata, Alibaba, Foxconn, Bessemer, Intel and Softbank, all pedigreed and prolific internet investors, all chose Snapdeal as their debut investments in Indian consumer internet. Obsessively capital efficient and demonstrating true sportsmanship, never does Snapdeal lament or seek level playing fields with global tech giants, it has chosen to compete.”
“Audacity of vision and confidence to execute, Snapdeal went on to acquire Freecharge in a $450mn transaction and super successfully pivoted it to become India’s second largest mobile wallet and ePayments company…Try the FreeCharge App, you will adore it.”
A user named Devansh Agarwal had commented,
“1. Benchmarking SD against a failing company like Groupon…You should check out companies such as InMobi who are doing a fantastic job and not just selling things at lower than cost price by burning investor money.
2.Snapdeal was backed by SoftBank and Alibaba only because Flipkart's evaluation seemed too high to then. SD was never their 1st choice.
3. Freecharge used to be great before it was bought by SD. I stopped using it soon after the buyout because of issues with the app.
4. SD technology is nothing to speak of. Basic things such as your search engine had glaring deficiencies.”
Furthermore Arya’s post says, “Snapdeal has built a core logistics and customer service capability.”
[Read about how Snapdeal founders have criminal cases against them for not settling logistic vendor payments]
The Snapdeal achievements we may not be aware of that Arya brings to our attention are these:
“The Unbox Zindagi branding, the re-launching of Maggi, sponsoring AIB videos, selling yachts and houses online or endorsement by Aamir Khan, marketing remains Snapdeal’s forte and its competitor’s nightmare, recall how Snapdeal regularly ambushes Flipkart and Amazon during the Diwali sales season, this year will be no different! Snapdeal is risk aware and not risk averse.
A good employer, in the recent downsizing, not one employee was treated unfairly. India’s digital media is inundated with overtly enthusiastic reporting on a range of issues, including lay-offs and M&A speculation for Snapdeal. Frankly, don’t give a damn, Snapdeal is made of steel – it has a proven track record, it beat Groupon and as a really-really late entrant, successfully secured a top three position in a fast growing ecommerce market and without doubt, the largest.
Heads down, we continue the work at Snapdeal, open for business and partnerships!”
Find the original post here.
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