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Snapdeal to invest more in logistics, technology

  • Online marketplace Snapdeal will spend more on logistics and
    technology to better compete with Flipkart and Amazon’s Indian unit, its
    co-founder has said,
    Reuters
    reported.
  •  
  • Flush with $500 million from a funding round in August, led by
    China’s Alibaba, SoftBank and Foxconn, Snapdeal is now looking to expand its

    • Online marketplace Snapdeal will spend more on logistics and
      technology to better compete with Flipkart and Amazon’s Indian unit, its
      co-founder has said,
      Reuters
      reported.
    •  
    • Flush with $500 million from a funding round in August, led by
      China’s Alibaba, SoftBank and Foxconn, Snapdeal is now looking to expand its
      services.
    •  
    • One area Snapdeal will focus on is to cut delivery times by
      investing in better data analytics and demand forecasting, co-founder Rohit
      Bansal told
      Reuters.
    •  
    • “We have done over 10 acquisitions and investments in the last
      one year, almost all of them in the field of technology or supply chain and
      payments,” he said. “With all these investments we have been able to
      reduce our delivery times by 70 percent in the last one year.”
    •  
    • Snapdeal, which had $4.5 billion in Gross Merchandise Volumes (GMV),
      a measure of value of goods and services sold, by August, bought mobile wallet
      company FreeCharge in April for around $400 million.
    •  
    • It has also spent around $35 million to buy about 50 percent stake in
      logistics services company GoJavas.
    •  
    • Bansal said that Snapdeal had received interest in part of its stake
      in FreeCharge to raise funds for the mobile wallet company, but declined to
      comment further.

     

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