GMV is so 2015: Snapdeal CEO Kunal Bahl
Kunal Bahl says Snapdeal is now focusing on net revenue instead of gross merchandise value; the new focus is part of another big change at the e-commerce firm
New Delhi: Less than a year ago, Snapdeal was seen to be neck-and-neck with bigger rival Flipkart in the race for domination of India’s e-commerce market. Today, depending on which version you believe, the SoftBank Group Corp.-backed Snapdeal is either the smart company that has realized the importance of profitable growth or is in real danger of becoming a distant rival to both market leader Flipkart and Amazon India, which has made rapid strides. Over the past six months, it has cut discounts and ad spending to conserve cash as funding slows down.
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