Snapdeal’s founders Kunal Bahl and Rohit Bansal sold 11,462 shares to Ontario Teachers’ Pension Plan, raising Rs 160 crores in a transaction in late 2015, as per RoC filing.
In 20151-16, Snapdeal recorded a loss of R3,315 crore in 2015-16, against revenues of Rs1,506.8 crore (source).
Given the massive layoffs last month, founders have now announced that they won’t take salary from the company for now.
Aside : Take a look at India’s richest billionaires.