E-commerce Companies Will Turn Profitable : Rohit Bansal, Co-founder and Chief Operating Officer at Snapdeal
Updated on: 17 Dec 2015
Snapdeal co-founder and chief operating officer Rohit Bansal on his company's performance in 2015, tapping 130 million consumers by going regional and the key focus area for the company in the upcoming year
Snapdeal co-founder and chief operating officer Rohit Bansal believes that the required investment in building infrastructure and technology is done with, e-commerce companies will start posting profits. He says that initial losses incurred by companies are a common phenomenon seen in every developed economy. In an interview with BW | Businessworld's, Bansal talks about his company's performance in 2015, tapping 130 million consumers by going regional, the key focus area for the company in the upcoming year.
How was 2015 for Snapdeal? Can you list out three major achievements by Snapdeal in 2015? 2015 has been a very significant for us. Snapdeal multiplied its presence and consumer in the present year. At present, we have over 2 lakh sellers selling over 15 million products. We have expanded in 5,000-plus cities and have a consumer base of around 100 million users.
In 2015, we made several successful acquisitions, expanded our operations in different segments and gained high success in technology.
The three major achievements in 2015 are: Snapdeal's success in reducing the average delivery time by up to 70 per cent, starting our own payment business (via Freecharge) and selling over 10 million wallets.
Though the revenue and valuation have grown tremendously for e-commerce companies, profit is still a concern. When can we see companies becoming profitable?