The government's tough new e-commerce rules announced on June 21 aimed at strengthening protection for consumers, caused concern among the country's online retailers, notably market leaders Amazon and Walmart Inc's Flipkart.
"They (SoftBank) are our existing shareholders and all kinds of conversations happen with them. I'm not either assenting or denying what you just mentioned (around fundraising talks with them)," said Kunal Bahl.
Kunal Bahl-led committee will have “upcoming e-commerce policy, the consumer protection rules and a consistent interpretation of the intermediary status of e-commerce platforms” on its immediate agenda.
The last major realignment exercise at Snapdeal, impacting employees, was back in 2017 when the company had reportedly laid off around 600 employees while founders Kunal Bahl and Rohit Bansal had foregone their salaries.
Ever since the government gave respite to e-commerce companies like Amazon, Walmart-owned Flipkart, others to deliver non-essential goods, the pent-up demand has led to a surge in orders and product searches.
While Snapdeal has also prioritized the sale of essential goods including personal, home hygiene, safety products etc. but unlike Amazon and Flipkart, it continues to accept orders for other categories as well.
The Snapdeal's 'Unbox India Sale' has up to 50 per cent off on electronics and mobiles, 70 per cent on home and living, 70 per cent on fashion apparels, and other needs can be fulfilled with up to 50 per cent off from the Sna
Eyeing an "aspirational India", Snapdeal has invested Rs 200 crore in rebranding activities and also unveiled a new logo as the e-commerce major focuses on wooing the next 100 million potential online shoppers.
"We have set up a data science engine in California, which is home to domain talent, to further augment our efforts in creating a superior customer experience and strengthen our supply chain. Snapdeal is extensively working o
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