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SPARK OF THE CORPORATE

We have an excellent network of couriers in this country - but it is more important to be closer to suppliers…

Kunal is the co-founder and CEO of Jasper, India’s largest couponing company which runs the leading buying portal in India. This firm is named as Snap Deal. The company was formed in the year 2008 and is now 300 member strong organization with operations in 30 cities and 5 countries. Thanks to its stupendous reach, via the internet.

Who doesn’t like getting discounted deals, on cosmetics, apparels or on hotel bills? All of us, right. There are beauty parlors or spa centers, which offer you a massive discount of 75% off, on manicure and pedicure services, facial and hair spa. Thus, the enriched coupon company is thriving in a culture obsessed with deals.

Education and Early days

Kunal prior to setting up an e-commerce biggie named as snap deal, co-founded a detergent based company in the US. This was done while he was studying in college. The company now sells products in across 3000 stores in the US. This detergent company was featured in a realty show sponsored by Oprah. The company has also made headlines at the Wall Street Journal and New York Times.

Kunal is an engineer from the University of Pennsylvania and holds a business degree from the Wharton School.

The Career Spark

Kunal started off, with Deloitte Consulting, which is one of the 4 big Chartered Accountancy companies in the US. He later joined Microsoft in US. Microsoft has provided companies with various high tech tools which have made the working much easier.

Eventually, after co-founding Snap deal, in year 2007, there has been absolutely no looking back, for the 31 year old entrepreneur.

His Journey with Snap Deal

Snapdeal.com was started in February 2010, as a part of Groupon.com but extended its horizons to the wide e-commerce market. Snap deal sells mobile phones, electrical and electronic appliances at dearth cheap prices. Apparels, crockery, LED TV’s, gift items and fast moving consumer goods are also sold at more than 30-40% slashed rates, running in your favor.

Life style deals include discounted movie tickets, beauty parlors deals and other offers at recreation centers like a 60% flat discounted rate off salsa or Zumba classes. Likewise, you name it, and you can find an attractive deal on snap deal.com. The couponing company has a tie up with various online sellers and gives you cool discounts which can leave you elated.

For certain items like jewelry or watches; a manufacturer’s warranty card is supplied, as a part of the product kit. So if anything goofs up, you are directed to contact the service cell of the consumer product.

Kunal started the company after he saw the success of Flip kart in the local domestic markets. For the year 2013, Snap Deal expects to cross gross revenues of 600 Crore i.e. US $ 97 million. Kunal Bahl, the CEO of Snap deal says, the company gets almost 15-20% of its total business revenue via e-commerce. In June 2014, Snap deal plunged a deal of more than 1000 sellers on its business platform, achieving a sales turnover of 1 Crore each. Snap Deal is also one of the best online portals for displaying Indian handicrafts on a global platform. The sales turnover of handicraft items has increased by leaps and bounds with the online biggie. It helps small scale entrepreneurs, catch hold of bigger markets. This is only possible through the exposure you get on World Wide Web.

How it all started off?

When kunal was studying in Pennsylvania. He had been an avid food lover since childhood. He was always on the look-out for finding restaurants and hotels which offered him food at 30 - 40% discounted rates. Though his search, led him to good hotels, he still could not afford a meal of 30-40$ per plate. This led him to search for dearth cheap deals or coupons, with which he could satiate his gastronomic indulgence. There was this particular publication named ‘Entertainment Publication’ in the US, which slashed off hotel bills up to 50% on the total bill. It gave him a great chance to taste some the world’s best culinary items at half the price, which customers had to other wise shell out on their meals.

No one knew at that point of time that a $1 billion dollar worth business idea was stirring in his mind. On his return to India, he started an offline food coupon service. This was during the year 2006. Subsequently in the year 2007, he launched Snap Deal with a similar concept in mind.

I live and travel to eat, says the 31 year old Bahl, when interviewed by E T Panache. He says, he travels most of the time just to eat. He spoke these golden words over a four course meal at an upscale fusion restaurant named ‘Indian Accent’, situated in New Delhi, the capital city of the country.

Recent developments of Snap Deal

Under the dynamic and able leadership of Mr. Kunal Bahl, Snap Deal has gone way ahead of other group on sites. It has recently launched corporate gift vouchers. Employees are no longer satisfied with medallions or badges, in recognition of their superior quality work. They are always looking for something or the other extra. With this aim in mind, Kunal launched the Employees Offer Scheme, wherein the company provides Snap Deal vouchers. With these vouchers, you as an employee can redeem the same at leading spas, salons, restaurants, for movie tickets and a lot more.

According to the co-founder of the online firm, these vouchers can be a fulfilling experience for employees, wherein even their esteemed family members can en-cash on the exciting rewards earned by their respective spouses.

As far as rewards and recognition goes, Kunal has been instrumental in helping Snap deal bag an award as the best group on site in Bangalore. There is more to go, for the young and inspiring entrepreneur Mr. Kunal Bahl.

Family

Mr. Kunal Bahl is married to Yashna and they both are known to be good foodies. 

Awards & Accolades
Snapdeal was awarded as the eRetailer of the Year & Best Advertising campaign of the year at the Indian eRetail awards 2012, which was organized by Franchise India in year 2012 in February.
Snapdeal was also a winner of the Red Herring Asia Awards 2011.
It was also awarded as the E-commerce site of the year at WAT awards, which were held in Mumbai in Jan of 2012.
The firm was also awarded with the ‘Young Turks Awards’ by Mercedes Benz and CNBC-TV 18 in New Delhi - Jan, 2012.
It was also rated to be the #1 e-commerce site in India.
This was also voted as the Busiest brands of India as per the afaqs's annual buzz-making poll.
It is also the Cheapest Online Mobile Store by Zoutons.com in November 2013.
Snapdeal was also given Silver for the Best Website – Service; at the Indian Digital Media Awards 2011 which were organized by the Exchange 4 Media group in June of 2014.
Professional Affiliations
The University of Pennsylvania.
University of Pennsylvania - The Wharton School
Jasper Infotech Pvt. Ltd
Quotes
 At 19, it really hits you when you spend a considerable amount of time on that one thing and you expect it to work and everyone around you expects the same and then it doesn't.
 I saw early on that my life is going to be a series of failures... but then failures help build character.
 We were just two guys with a PowerPoint presentation asking brands to come on board, but when they asked 'who are you', 'who are your clients', we had nothing to show."
 It was the worst site ever, half the transactions would fail, but it was a start nonetheless. Our target was 100 transactions a day in three months; we got there in three weeks. For the first time in our lives we felt if you give some input you get a proportional output.
 We learnt from the Chinese experience that consumers attach huge premiums to variety, which is not available in offline stores for lack of space. The real estate cost as a percentage of gross revenue in India is 14 times that of the US.
 I sometimes say we are not an e-commerce company but we facilitate e-commerce.
 We have merchants listed with us on one side and couriers or shipping companies on the other. The moment a merchant receives an order and processes it, the safe ship connects him with the fastest and cheapest courier service available between the two pin codes. It is done at one-third of the cost that the seller would have incurred otherwise.
 You can't build huge warehouses, own and manage logistics all at the same time. So, the best thing to do is invest in a platform in which merchants can sell products at the best prices, and also have a good forecasting system in place to help merchants plan their inventory. Reaching the last mile is not difficult - we have an excellent network of couriers in this country - but it is more important to be closer to suppliers.

Hope viewers caught up the spark…

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