Connect with us

Latest News

Snapdeal Cofounders Write To Employees After Terminating Flipkart Deal

Published

on

Snapdeal Cofounders Write To Employees,Snapdeal Terminating Flipkart Deal,Vulcan Express,Snapdeal Founders,Flipkart Merger Deal,Snapdeal 2.0 strategy,Flipkart Latest Deal,2017 Latest Business News,Startup Stories

Snapdeal recently decided to go their own independent route and declined the $ 900 million takeover offer from Flipkart. After the collapse of the merger, many senior level executives including the Vice President of Product Pradeep Desai, the Vice President of Engineering Viraj Chatterjee and the Head of IT Gaurav Gupta quit the ecommerce company. The company had laid off close to 600 employees earlier this year, across the ecommerce marketplace and its subsidiaries, FreeCharge and Vulcan Express.

While Snapdeal has successfully sold its online payments arm FreeCharge to Axis Bank, the future of the logistics arm Vulcan Express still hangs in the balance. The founders Kunal Bahl and Rohit Bansal, who have been hesitant about the Flipkart merger since the beginning, released a letter to the employees speaking about the future of Snapdeal. In the letter, the founders touched upon various issues including the ecommerce market in India and their journey as an independent entity. They even spoke about the extensive media coverage the deal received and the complexities it involved.

Both the cofounders firmly believe in the new direction, Snapdeal 2.0, the company must take and the laser focus required to become a ‘champion’ online market space. They aim to make around Rs. 150 crores gross profit in the next 12 months, with a tight control on costs and higher efficiency.

Success is never final, failure is rarely fatal; it is the courage to continue that counts,” the letter added. The fate of this ecommerce company at present remains uncertain, despite the high hopes of the cofounders. One thing that remains certain is that the immediate sale of their logistics arm Vulcan Express, acquired in 2015, will deeply influence the growth of Snapdeal 2.0.

You can find the complete letter here –

Dear Team,

Over the last few months, our company has been engaged in strategic discussions with other players. A lot of time and effort has gone into the process from all participants in this exhausting process. The process has led to intense speculations and uncertainty for our team, partners and shareholders. And now it is time to finally put an end to this saga.

We will be continuing the Snapdeal journey as an independent company. As we have often discussed, the opportunity of e-commerce in India is immense, and the surface of this $200 Billion market has barely been scratched yet. We have a tremendous team, millions of loyal customers, hundreds of thousands of motivated sellers and a phenomenal platform that has been built with years of effort.

All the ingredients of success have always been there in our company. And after the last few months of tumultuousness, it is time to focus on the business and leverage all our strengths to progress towards our vision of building the best marketplace to connect buyers to sellers in India.

The good question to ask is why are we moving down an independent path, when so much effort went into determining a strategic combination. There are a few reasons for this, which go beyond the fact that the deal being contemplated was incredibly complex to execute as reported extensively by the media.

Firstly, there isn’t going to be one successful model for e-commerce in India. In every market, there are multiple successful e-commerce businesses, and as long as one’s strategy is differentiated and has a clear path to success, there is a great company that can be built. We firmly believe in our new direction – Snapdeal 2.0 – part of which is a laser focus on being a champion for all sellers in India, enabling anyone to setup a store online in a few minutes and focusing on providing large selection of products at great prices to consumers.

Secondly, we have made tremendous progress towards this new path over the last few months and are already profitable at an gross profit (a.k.a. net margin) level, with clear visibility to making upwards of Rs 150 Crores in gross profit in the next 12 months.

Finally, with the ongoing streamlining of costs and sale of some of our assets, such as Freecharge, we are financially self sufficient as a company and don’t need to raise additional capital to reach profitability. Needless to say, we will need to keep a tight control on our costs and work towards becoming a hyper efficient culture delivering profitable growth, month on month. 

Success is never final, failure is rarely fatal; it is the courage to continue that counts. Let’s work together to make Snapdeal 2.0 a super success!

Thanks!

Kunal & Rohit

Continue Reading
Advertisement
1 Comment

1 Comment

  1. Twgxqpjo

    May 26, 2025 at 1:25 am

    Explore the ranked best online casinos of 2025. Compare bonuses, game selections, and trustworthiness of top platforms for secure and rewarding gameplaycasino.

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

IIT Hyderabad Unveils Palyanka, Heavy-Lift Drone for Air Ambulance Use

Published

on

Hyderabad - Drone

The Technology Innovation Hub on Autonomous Navigation Foundation (TiHAN) at IIT Hyderabad has set a new standard in drone technology with the launch of Palyanka, a heavy payload drone designed as an autonomous air ambulance. Capable of carrying up to 200 kg, Palyanka is engineered to swiftly transport patients, medical equipment, or critical cargo across challenging terrains, bypassing traditional barriers like road congestion and remote inaccessibility. This advanced UAV operates autonomously, making it highly effective for rapid response in both urban and rural emergencies, and stands at the forefront of disaster relief operations in scenarios such as floods and fires.

Built for versatility, Palyanka doesn’t just function as an air ambulance. Its robust design enables use in rescue missions, cargo deliveries, and even as an air taxi for metropolitan connectivity. Inspired by the Sanskrit word for palanquin, the name “Palyanka” reflects the drone’s role as a safe and efficient carrier. All components, from conceptual design to IP, have been developed in-house at IIT Hyderabad, ensuring the drone meets stringent standards for durability and performance under extreme conditions.

With a development journey spanning over five years and led by Prof. P. Rajalakshmi, TiHAN’s team has transitioned from early drone prototypes to a full-scale, high-capacity solution like Palyanka. The team is now preparing pilot projects in hilly terrains and working on further enhancing the drone’s endurance with innovative heat-resistant materials. By pioneering such indigenous solutions, IIT Hyderabad’s TiHAN is transforming emergency medical services and logistics, marking a pivotal advancement in India’s urban mobility and public safety landscape.

Continue Reading

Latest News

X’s Major Price Cut in India: Premium Plans Now More Accessible Than Ever

Published

on

StartupStories

X, the social media platform formerly known as Twitter, has announced a major reduction in its subscription prices across India, slashing fees by up to 48%. The Basic plan now starts at ₹170 per month, down 30% from its earlier price, while the Premium plan has dropped 34% to ₹427 per month on the web. The Premium+ plan has also become more affordable, now costing ₹2,570 per month—a 26% reduction. For mobile users, the discounts are even steeper, with Premium priced at ₹470 per month and Premium+ at ₹3,000 per month, reflecting the impact of app store commissions.

This marks the first comprehensive price adjustment across all three tiers—Basic, Premium, and Premium+—since the service launched as Twitter Blue in India in February 2023. The move comes shortly after Elon Musk’s AI venture, xAI, rolled out the new Grok 4 model and follows xAI’s acquisition of X earlier this year. The price cuts are seen as a strategic effort to boost adoption in India, one of the world’s largest internet markets, by making premium features more accessible to a wider audience.

Each subscription tier offers a range of features: Basic users can edit and write longer posts, enjoy background video playback, and download videos. Premium subscribers get additional perks like a blue checkmark, creator tools, analytics, and fewer ads, while Premium+ members benefit from an ad-free experience, article publishing, and exclusive access to advanced AI features. These changes are expected to make X’s premium services more appealing to Indian users looking for enhanced social media experiences.

 

Continue Reading

Latest News

Leadership Shakeup at X: Linda Yaccarino Resigns After Two Years at the Helm

Published

on

Linda - Startup Stories

Linda Yaccarino, the CEO of X (formerly Twitter), announced her resignation on July 9, 2025, bringing her two-year leadership of Elon Musk’s social media platform to a close. Yaccarino, who previously led NBCUniversal’s advertising division, was appointed in 2023 to help stabilize X’s advertising business and guide the company through its ambitious transformation into an “everything app.” In her farewell message, she expressed gratitude to Musk for entrusting her with the mission of revitalizing the company, protecting free speech, and prioritizing user safety, though she did not specify a reason for her departure.


Her exit comes at a turbulent moment for X, following the recent controversy involving Grok, the AI chatbot developed by Musk’s xAI, which posted antisemitic content referencing Adolf Hitler. This incident intensified scrutiny of X’s content moderation policies and added to the challenges Yaccarino faced, including restoring advertiser trust after a period of strained relations with major brands. Some analysts have suggested that differences in management style between Yaccarino and Musk, as well as the evolving structure of X after its integration with xAI, may have contributed to her decision to step down.

Elon Musk publicly thanked Yaccarino for her contributions, while her departure leaves a leadership gap as X navigates ongoing business, regulatory, and reputational challenges. The company’s next steps will be closely watched as it seeks to maintain its influence in the social media landscape and fulfill Musk’s vision of a multifaceted digital platform.

Continue Reading
Advertisement

Recent Posts

Advertisement