Snapdeal is a name most people know in modern India, all thanks
to its rogue founders CEO- Kunal Bahl, COO- Rohit Bansal & CFO Vijay Ajmera
who are burning obnoxious sums of investor’s money in mindless advertising and mergers.
As on date snapdeal is pretending to be a front-runner who
have worked hard to change the rules of the digital game.
Snapdeal was a failed company and failed business model from
the time it started as Moneysaver- an offline discount couponing company when India
already had quite a few demonstrated success like Naukri.com, Shaadi.com and
Makemytrip in the online space. Giving a glimpse into the own poor understanding
of snapdeal’s founders about the ground reality.
They then looked around and cloned groupon but their fabricated
press releases credit ‘not- so- tech- savvy merchants’ who coaxed them to go online
instead. After blowing their own trumpet as market leaders with a majority market
share (just as they are doing today) they unceremoniously abandoned and shut
their deals business after raising money for it from investors- Nexus Venture Partners and Indo- Us Venture Partners in Jan 2011 and Bessemer Venture Partners besides the earlier two investors in July 2011.
Again through fabricated press releases which talked of
being impressed by Alibaba on a chance visit
to China they later announced changing their business model to become a marketplace
while copying Alibaba( I shall be seeking readers attention to detailed facts
that will punch holes in all their false claims later and would instead keep
them focussed currently)
The real reason behind changing its business model and the
source which changed the fortunes for snapdeal is probably not even known to
its closest investors.
On the back of fake propaganda of their still loss making company
and blowing their own trumpet, they are today defrauding people like Ratan
Tata, Azim Premji, Aamir Khan and score of meritorious investors who have achieved
success through sheer hardwork, integrity and their ethical conduct.
In a country like
India which is still nascent in terms of rules and laws that govern the
operations of digital enterprises that run on its soil, Snapdeal as a stroke of
luck has gone unchecked else the start up team would have been behind the bars.
I as an entrepreneur and professional who has spent last 16
years of his work life primarily in the field of digital whilst being focussed
on creating real sustainable value through original work will share my wealth
of experiences that will benefit an entire generation of upcoming talented entrepreneurs
who should not have to go through the difficulties faced by me.
I have taken upon myself the battle of fighting snapdeal who
has turned complacent by suppressing the facts on the back of their monetary
strength and underestimated the power of truth which has dethroned many people
unworthy of the power and fame they enjoyed until being exposed.
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