Continuing with #snapdeal’s story, here is the second part [read the first part here: [The Snapdeal Story] From Selling Detergent to Building A Couponing Service].
Kunal Bahl, cofounder of Jaspers (parent company of Snapdeal) discusses some of the key challenges they faced.
– Faced Key challenges in Hiring.
We were operating out of a residential area and candidates were not so interested in working in such an outfit (how many of you have faced this?).
– Constantly Experiment with new products. Many of them failed.
– Started Neighborhood Coupon mailing
Aggregated discounts from retailers and delivered door to door. India’s poor infrastructure of delivery (of offline mail) gotten in the way.
Failed experiment, but helped the team in understanding the needs of local merchants.
– Mid of 2009, market improved.
Raised investment (Read: Snapdeal Funding from NEA-IUV?).
– Adding second city is the most difficult. Requires a leap of faith.
First 16 months – 1 city. Next 18 months – 29 more cities (4 countries).
– Around January, 2010 came the idea of Snapdeal (had a watershed moment).
Was launched within 10 days 8 days [Snapdeal.in]. Looked quite ugly.
“We just wanted to get it out. We had no expectation in the initial days.”
Watch the second part of Snapdeal interview.
Next: The turning point.
Part 1 Video