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Tag: Kunal Bahl

  • Shadowfax bags $300k funding from Snapdeal founders & others

    Shadowfax bags $300k funding from Snapdeal founders & others

    MUMBAI: In view of the booming e-commerce industry, the Gurgaon-based tech-enabled logistics startup Shadowfax has raised funds of $300,000 from multiple investors.

     

    Merely within four months since inception, the hyperlocal merchant delivery services company received the investment in an angel round led by established Indian entrepreneurs such as Snapdeal founders Kunal Bahl and Rohit Bansal, Powai Lake Ventures’ Zishaan Hayath and Limeroad’s Prashant Malik.

     

    The reason they are betting big on the venture lies in the difference in approach, according to Shadowfax co-founder and CEO Abhishek Bansal. “We believe that improving the existing state of last mile delivery and hyperlocal logistics would enable all future business growth. At Shadowfax, we are looking to build India’s most formidable, credible and fastest merchant delivery service. To achieve our aim, we have invested in strengthening our people on-boarding & training with tech-enabled solutions that help us provide 100 per cent service assurance,” he said.

     

    Shadowfax has invested in robust and reliable technology that uses multiple modes of communication in order to provide relevant solutions in the Indian context. It employs integrated GPS tracking functions and automated algorithms in its product to improve the efficiency of the network. 

     

    Shadowfax CTO and co-founder Vaibhav Khandelwal elaborated, “We have incorporated several features that leverage our proprietary end-to-end capacity planning algorithm to put the merchant directly in touch with the rider, geo-location for tracking orders, rider route planning, order coupling etc. that will help us become most efficient delivery company. Our advanced technology around restaurant preparation time ensures riders pick up meals only after they are ready and use the shortest route to navigate their way to their destination. We are single-mindedly focused towards building a highly reliable and smart network that guarantees seamless and accurate delivery which will help us lead this space.”

     

    Facts and figures support Shadowfax’s exponential growth within a short span of time. Since its launch in May 2015, Shadowfax today has an average delivery volume processing of approximately 3000 orders a day and 120-150 outlets that are currently utilising its service for last mile delivery in the Delhi-NCR region. Its service levels have made the company the vendor of choice with the merchants. The growth of the company has been driven through referrals.

     

    “We’re growing very rapidly. We have already created a niche for our services in Delhi-NCR and are looking to strengthen our present team of 35+ employees and 350+ riders and expand into 10 more cities within the next one year. With the recent investment, technology maturity and endorsement from our partners we are well poised to achieve that goal,” says Abhishek.

     

    The company further aims to take its services beyond food delivery and expand its efficient logistical infrastructure to multiple other categories. Angel investor Hayath added, “Abhishek and Vaibhav are focused on using technology as the core to build a strong merchant delivery network. This is a large problem with high fragmentation and the founders are obsessed with skill, efficiency and speed. This gives me the confidence that Shadowfax will grow into a very valuable company.”

     

    Moreover, Shadowfax has a strategic tie-up with NSDC’s training partners to enhance skills of riders and provide customized training that focused on continuous improvement. “With our superior training infrastructure and pioneering approach towards the delivery management sector, we will make the delivery industry an aspirational avenue for the youth of the country. We have opted for a partial crowd-sourced model, where anyone who wishes to be a rider can join our rider pool. However, every rider is imparted vocational skill based training before deployment,” said Abhishek.

     

    “Our core team comprises members who have known each other well from our time at IIT-Delhi. We share an extremely strong bond from our college days, and it has translated into a strong base on which to build the organisation. We are keen on getting like-minded individuals on board who can contribute to Shadowfax’s growth,” he concluded.

  • Snapdeal acquires Exclusively to create India’s first online luxury mall

    Snapdeal acquires Exclusively to create India’s first online luxury mall

    NEW DELHI: Online marketplace, Snapdeal.com has acquired Exclusively.com (formerly Exclusively.in) – the online destination for premium and luxury fashion. With this acquisition, Snapdeal looks to further strengthen its fashion business and reaching $2 billion in GMV in the fashion category this year.

     

    Luxury products and services is a $14 billion market in India, growing at 30 per cent YoY, according to a recent KPMG-ASSOCHAM report. More than 70 per cent consumers want to shop for luxury products in India rather than abroad.

     

    Snapdeal co-founder and CEO Kunal Bahl said, “Snapdeal has always operated ahead of the curve in the e-commerce space, especially when it comes to category leadership. We have witnessed a surge in the demand from consumers across the country for premium and luxury products, however, given that access to luxury brands is severely limited in our country, we have brought Exclusively into our family to provide our 40 million+ users the access to widest range of aspirational, high end products and services.”

     

    Under this partnership, Exclusively will complement Snapdeal’s existing ecosystem and will provide a consolidated offering for the luxury and lifestyle shopper, making it India’s first online luxury mall.

     

    Luxury and premium fashion brands from across the world can now open stores in Exclusively’s online luxury mall. Exclusively will continue to function as an independent site and all aspects of Exclusively’s online shopping experience will remain intact, with new collection and service augmentations in the pipeline.

     

    With its nationwide reach, robust technology platform and deep consumer insights, Snapdeal will help Exclusively scale up and expand its current business and reach.

     

    Exclusively co-founder Sunjay Guleria and Mohini Boparai-Guleria said, “Exclusively has built and grown a cache of leading premium Indian designers, brands and boutiques. The partnership with Snapdeal comes at the right time. With increased awareness and growing disposable incomes, premium and luxury consumption in India is seeing a significant upward trend. With the geographical limitations of the brick-and-mortar model, we strongly believe that the luxury and premium segments can only be grown by sharing access with the consumer.  With Exclusively’s fashion experience and Snapdeal’s scale of operations, we look forward to not just servicing large metros, but also the aspirational demand in smaller towns across India.”

  • Den Networks & Snapdeal ink 50:50 JV for TV Commerce channel

    Den Networks & Snapdeal ink 50:50 JV for TV Commerce channel

    MUMBAI: After inking a joint-venture with Jasper Infotech, the entity that owns and operates the digital commerce platform – Snapdeal.com, multi system operator (MSO) Den Networks has now launched a ‘TV Commerce’ channel with an aim to create a multi-nodal electronic shopping avenue for customers.

     

    The channel is currently available for viewers on channel number 132 on Den and will be extended to other cable and DTH networks over the next six months.

     

    With Den Networks’ reach into about 13 million households in over 200 cities across 13 states in the country, Snapdeal.com can leverage the robust distribution to provide customers easy access to products across home, lifestyle and electronics categories.

     

    Snapdeal.com co-founder and CEO Kunal Bahl said, “Innovation lies at the heart of Snapdeal.com and with this initiative we are taking yet another step to fulfill our promise of providing accessibility to the best products at best prices to consumers across India. We are delighted to partner with a likeminded brand like Den Networks, which enjoys massive reach and brand loyalty across the entire country and especially in smaller towns of India. India is a country with many heterogeneous segments of consumers, and we believe that by reaching 150 million households with 600 million people that have a TV, we can create another revolution through 7V Commerce.”

     

    Den Snapdeal TV shop will benefit customers who have limited access to internet services particularly in tier 2 and 3 cities. 

     

    Den Networks CMD Sameer Manchanda added, “We are extremely thrilled to partner with Snapdeal.com on this game-changing initiative. By leveraging Snapdeal and Den’s nationwide distribution network will now be able to engage with a much larger audience, which is still not exposed to the benefits of online shopping and internet access. Together, we aim to offer the customers a wide assortment of products and provide them with a hassle free buying experience. The response to the pilot has been extremely encouraging and we are sure Den-Snapdeal TV Shop will be well received by our viewers.”

     

  • SoftBank invests $627 million in Snapdeal

    SoftBank invests $627 million in Snapdeal

    MUMBAI:  Seeking to tap into the growing e-commerce market in India, the Japanese telecom giant SoftBank announced a $627 million investment in the home-grown retailer Snapdeal, becoming the largest investor in the company.

     

    This is the largest investment made by a single investor in an e-commerce company in India.  Other existing investors have also participated in this round with a significant undisclosed investment.

     

    Through this strategic investment and partnership with Snapdeal, the telecom group aims at strengthening its presence in India and leveraging synergies with its network of Internet companies around the world, according to the press release issued by the e-tailer.

     

    While on the other hand, Snapdeal, will use the investments in expanding its chain of fulfillment centres. It will also look to make 3-4 strategic acquisitions in the coming few months specifically in the area of mobile technology and is planning to set up an incubation centre to hone and harness start-up businesses in the mobile technology space within next six months.

     

    Talking about the investment, SoftBank chairman and CEO Masayoshi Son said, “Since SoftBank’s foundation, our mission has been to contribute to people’s lives through the Information Revolution. We believe India is at a turning point in its development and have confidence that India will grow strongly over the next decade. As part of this belief, we intend to deploy significant capital in India over the next few years to support development of the market.”

     

    Adding to that, SoftBank’s vice chairman Nikesh Arora reckoned, “India has the third-largest Internet user base in the world, but a relatively small online market currently. This situation means India has, with better, faster and cheaper Internet access, a big growth potential. With today’s announcement SoftBank is contributing to the development of the infrastructure for the digital future of India. We want to support the leaders and entrepreneurs of the digital future; Kunal and Rohit are two such great leaders.”

     

    Nikesh Arora will also be joining the board of Snapdeal as part of this strategic investment by the SoftBank Group.

     

    Morrison & Foerster LLP acted as legal advisor to advising SoftBank on India law matters.

     

     “Our entire team at Snapdeal is thrilled and honoured to have SoftBank as a strategic partner. With the support of Son-san and Nikesh, we are confident we will further strengthen our promise to consumers and create life changing experiences for 1 million small businesses in India,” said Snapdeal co-founder and CEO Kunal Bahl.

     

    Founded in 2010, the company also claims to have more than 25 million registered users and more than 50,000 business sellers. Earlier this year, Snapdeal had raised $133.77 million in a round led by eBay and $105 million from institutional investors including Temasek, Myriad, Tybourne, Blackrock Inc. and Premji Invest. Tata Sons Chairman Emeritus Ratan Tata also made a personal investment into the company. 

  • After Tata Housing, Snapdeal now ties up with Croma

    After Tata Housing, Snapdeal now ties up with Croma

    MUMBAI: Tata Group promoted electronics retail chain Croma and Snapdeal.com have entered into a strategic partnership to sell products online.

     

    According to the press release, Snapdeal.com would create Croma’s Flagship Store on its portal to sell electronic items including mobiles, tablets and laptops. The two will jointly work towards market development initiatives, establish joint collaboration on customer and vendor outreach programmes and category development.

     

    Talking about the collaboration, Snapdeal CEO Kunal Bahl said, “This is a big moment for us, where Croma and Snapdeal.com will now leverage their offline and online presence respectively and work jointly to offer a more holistic shopping experience to consumers across the country.”

     

    Both brands would also be looking at exclusive launches of products and brands belonging to the select categories.

     

    Infiniti Retail MD & CEO Ajit Joshi said, “Today’s dynamic retail industry demands an infrastructure that is equally robust on the online and brick-and-mortar fronts.”

     

    “Omni-channel retail is undoubtedly the way forward in the Indian retail industry, and therefore the association is designed to enable Croma and Snapdeal to leverage from each other’s strengths, to provide a winning proposition for customers and business alike,” he added.

     

    This is second tie-up of Tata with the New Delhi-based e-commerce major after its chairman Ratan Tata picked up a stake in the portal. Last month, Tata Value Homes, a 100 per cent subsidiary of Tata Housing, entered into a first-of-its-kind, strategic and exclusive partnership with Snapdeal.com to sell residential properties.

     

    Infiniti Retail Ltd, a 100 per cent subsidiary of Tata Sons runs Croma stores. Launched in October 2006, Croma has 96 outlets across 16 major cities of India and sells over 6000 products.

     

    Started in February 2010, Snapdeal.com is country’s online marketplace.

  • ‘Parivarik’ Bigg Boss 8 ready to take off

    ‘Parivarik’ Bigg Boss 8 ready to take off

    MUMBAI: It is that time of the year when everyone will rush back home to switch on their television sets to watch 12 known faces stuck in the house. 

    Yes, one of the biggest non-fiction properties of the Indian television industry – Bigg Boss – is back on Colors. Come 21 September, in its eighth season, the show will have in store a never-seen-before thrilling adventure which promises to be all about bumps, jolts and spilled drinks.

    Pieced together by Endemol India, the bhai of Bollywood, Salman Khan, will host the show which is themed around aviation with the tagline ‘Bigg Boss aath, sabki lagegi vaat’.

    12 first-class passengers and newsmakers from all walks of life, will block their seats in this one of a kind aircraft, forge their own connections and survive in this airspace. So are contestants selected as per the theme? “No,” comes a quick reply from Colors CEO Raj Nayak. “Contestants are not chosen according to the theme. We choose contestants from different walks of life and then map them. There are certain characteristics we are looking for as we don’t want boring people in the house.” Thorough research is conducted to analyse their way of thinking and behaviour.

    He recalls the moment that two years ago after being the victim of too many controversies, the channel had decided to change the theme and go parivarik with the show. Like always, he believes the challenge is to not show content which can be uncomfortable for families. So, the channel takes the decision of editing the content.

    “At the end of the day one must realise that contestants are recorded 24 hour and it is not that things don’t happen in the house. But we will not show such things on-air. Obviously there are dos and don’ts, but on television we are very careful. And ever since we made it parivarik, we have not got a single complain,” says Nayak.

    Nayak further goes on to say that he has received a feedback saying it is an educational programme on human psychology. “For me, we have looked it as an education programme on human psychology and at the same time it is entertaining and see different sides of human beings. It teaches you a lot of things. So, here there is an opportunity for you to sit down and say that I am doing a crash course on human psychology in 100 days,” laughs Nayak.

    He states that the channel does not have any control on how the contestants behave on the show. According to Nayak it is a challenge because it is not scripted and there is no interference from the channel’s side even if things get ugly. The only communication between the channel and the contestants is through the Bigg Boss and the various tasks. “We create some tasks which may create friction, romance, etc. And if it gets little boring, we cover it by doing dance competition. We cannot control how they behave in what they do,” says Nayak.

    Considered to be the most expensive property on TV, the spend goes into the set, contestants, technological equipment, the celebrity host and marketing. According to sources, the production cost per season is around Rs 180 crore.

    Endemol managing director Deepak Dhar believes that the show has won over viewers across age groups. “The audiences revel in the erratic format of Bigg Boss and with every season we reinvent ourselves to make the show as unpredictable and entertaining as ever.” Also the creators have realised that the Khan as host transcends from a seven year old to a 75 year old.

    After five-long years, the channel has got on-board Snapdeal as its new presenting sponsor instead of Vodafone India. In a deal which is speculated to be worth Rs 35 crore, this is a giant leap for the e-commerce site which had previously sponsored reality shows on MTV including MTV Roadies.

    Talking about the partnership, Nayak says that several e-commerce firms wanted to get on board but they snapped the deal. He also added that the Bigg Boss 8 team approached the company for the sponsorship. The deal is currently for only one year and the CEO hopes to continue the association in the future.

    Excited with this new collaboration Snapdeal CEO Kunal Bahl says, “The money is well spent. Hopefully this is the beginning to a long relationship. This is the right show for our young brand to reach the right audience. Sure that we will get a good return for our investment.”

    With the huge competition in the e-commerce space and the stringent government policies, India-based online retailers like Snapdeal have been looking for various new ways for raising funds. This partnership is going to make perfect brand recognition for Snapdeal.

    The channel has also roped in Oppo Mobiles as the powered by sponsor. Moreover, Colors has created a new category called ‘Driven by’ and has roped Maruti Suzuki. Other associate sponsors are Garnier Men, TVS Motors, Cardekho.com, Bisleri Urzza and JK Tyres.

    The channel is not looking at getting more sponsors on-board. “There are lots of people who may not be able to afford the tickets as of Rs 10-12 crore. Plus we have a lot of advertisers who are our regular patrons, so we want to give them an opportunity to also be a part of Bigg Boss,” Nayak reveals that sponsors consume normally 65 per cent of the inventory. As for the ad rates this time, the channel has increased its overall pricing by almost 30 per cent as compared to the previous seasons.

    According to sources, each associate sponsor pays Rs 12-15 crore. Spot rates range from Rs 4.5-5 lakh per 10 seconds in episodes that feature Salman Khan, while other episodes command Rs 3.4-4 lakh per 10 seconds. For the channel to breakeven, ad revenues are pegged around Rs 350 crore.

    On the marketing front, hundred per cent consumer entertainment being the mantra of Airlines #BB8, the marketing strategies will revolve around increasing the market penetration and connecting with new consumers.

    The route will be encompassing all the mediums across 200 cities and towns to encourage repeat flying for the viewers. For a higher resonance radio stations across 30 cities will be tapped. For build-up, promotional content will be plugged in across 30 channels and, for a glaring visibility and tune in, an attractive outdoor campaign will don the high walls at strategic locations in key cities.

    On order for the consumers to get better passenger information an interesting digital plan has been floated. Viewers can source the entire daily dose via Facebook and Twitter. While FB will have a fun Bigg Boss themed app to test the survival strategies of the player, Twitter will leak live information 24*7. The website www.colors.in will have uncensored videos and a Khabri who will blog live updates. Moreover, a mobile app will beam the live feed to keep the viewers tuned in on the go.

    This time Snapdeal is very keen keeping in mind the virtual space. “You will find a lot of engagement activities on the digital space where you will be able to get Snapdeal vouchers, gifts and much more exciting stuff,” adds Nayak.

    Unlike last year, where Bigg Boss videos where also available on YouTube, this year the channel has banned it.

    About the expectations from this season, Nayak believes that he is very superstitious with numbers. “Every time you launch a show you hope that it will be better than the previous season. Previous season had a very good opening, so we think this season should do it even better. The promos we have launched this time and the amount of buzz we have got is the highest we have ever seen either on social media or general feedback.”

    On Twitter, Nayak confidently says that there is no other show in this country that trends as much as Bigg Boss does the moment the show is launched. “I don’t have to spend much money also on marketing because the buzz gets created on its own,” concludes Nayak.

  • Snapdeal.com looks at inorganic expansion

    Snapdeal.com looks at inorganic expansion

    MUMBAI: Snapdeal.com has appointed Abhishek Kumar as its corporate development head. Kumar comes with a vast experience in venture capital investments, strategic partnerships, business management and M&A in technology and media businesses.

     

    Kumar said, “I feel fortunate to be a part of the young, energetic and dynamic team at Snapdeal. The platform is a remarkable example of a successful home-grown e commerce brand in India. I am extremely thrilled and excited to be a part of this company and contribute to its development going forward.”

     

    At Snapdeal, he will be responsible for acquisitions, investments and deep partnerships that can lead to mergers for the e-commerce giant. He will look at all avenues of inorganic expansion as Snapdeal moves towards the next phase on the back of heady organic growth over the last three years.

     

    “This is a very exciting phase for the e-commerce industry and we are seeing tremendous opportunities of discontinuous growth in the market. We recognise that no company can do everything well by itself, and hence we would look forward to working closely with the burgeoning ecosystem of entrepreneurs and venture capitalists in India to build deep partnerships. Abhishek with his rich and diverse experience in venture capital and business management brings the necessary skills to take Snapdeal into newer orbits of success through strategic partnerships.” said Snapdeal co-founder Kunal Bahl.

     

    In his last assignment, Kumar was investments head at Palaash Ventures where he led the investment team in deploying early stage capital in consumer internet, SaaS, Ad-tech, hardware and e-commerce enablers. He was earlier with TV18 Broadcast, leading the new ventures function for the media group.