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Snapdeal eyes Rs 600 cr revenue in FY 2013; to make 4 acquisitions in 2012

Snapdeal.com expects to garner revenues of
about Rs 600 crore in the current fiscal and is also scouting for more
acquisitions which would help it strengthen its offerings, reports Business

Snapdeal.com expects to garner revenues of
about Rs 600 crore in the current fiscal and is also scouting for more
acquisitions which would help it strengthen its offerings, reports Business
Standard. Earlier this year, Jasper Infotech Pvt Ltd that runs Snapdeal.com had
said it has earmarked USD 20 million (around Rs 100 crore) to make up to four
acquisitions in 2012.

“In 2012 we will make three to four
announcements (on acquisition). We are not only looking for e-commerce players
that specialise in specific product categories, but also relevant technology
firms that can add value to our business,” said Kunal Bahl, Co-Dounder and
CEO, Snapdeal. Snapdeal recently
acquired online sports goods retailer eSportsBuy.com. The company had also bought Bangalore-based group buying firm Grabbon.com in 2010. 

The company also plans to increase its
headcount by 500 persons this year. The company employs 1,500 people at present
and plans to scale the number to 2,000 by the end of December 2012.

“We are hoping that we convert the
significant chuck of the growing Internet users in India to do transaction with
us. In terms of revenues we are expecting about Rs 600 crore in the current
financial year,” said, Sandeep Komaravelly, Vice President, Marketing, Snapdeal.

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