What’s he building in there, what the hell is he building in there,” asks Tom Waits in a song, helpfully called, What’s He Building. He is peering over a fence into his neighbour’s yard and is confused. He is sure there is something sinister at work. Admittedly, it isn’t Waits’ best work. He has done better. But the line isn’t too dissimilar to what can and must be asked of Kunal Bahl, Rohit Bansal and Snapdeal.
The e-commerce highway
Snapdeal – The Pivot Machine
A deep dive into the chameleon of the e-commerce industry in India
Snapdeal has hired people, fired people; decided Gross Merchandise Value (GMV) was boss and then decided Daily Active Users (DAU) was the key metric
Freecharge could help push Snapdeal to raise the much elusive next round of funding.
Snapdeal, who boasted that it employed 10,000 people once, was down to a head count of 3,500. The plan, sources say, is to go down to 2,000 by 2017
The last round was raised at a valuation of $6.5 billion and the valuation currently whispered in Snapdeal’s hallways is closer to $4.8 billion