AceVector Ltd Company Summary

Snapdeal Limited was formerly incorporated as Jasper Infotech Private Limited on September 12, 2007, at New Delhi, as a Private Limited Company. Thereafter, the name of Company, was changed to Snapdeal Private Limited, dated March 20, 2019, issued by the RoC. Subsequently, the Company converted into a Public Limited Company and again its name was changed to Snapdeal Limited vide fresh Certificate of Incorporation consequent upon conversion dated December 9, 2021.The Company offer an eCommerce platform, offering products under various lifestyle categories like fashion; home and general merchandise; beauty and personal care; and others through value-oriented seller base, providing fulfillment powered by technology, data analytics and customer support.

The sellers on platform offer quality merchandise based on the latest trends and are affordably priced. The co-founders, Kunal Bahl and Rohit Kumar Bansal, started the business in 2007 as a coupon booklet business, which transformed into an online deals platform in 2010, and led its transformation into an online eCommerce marketplace for product in 2012. The Company thereafter introduced Snapdeal, which includes an Online Shopping Application.

In October 2015, it acquired 100% stake in Unicommerce e-solution Private Limited, a subsidiary of Company, which grew its business. It also acquired a minority stake in an associate, Tetra Media Private Limited in 2015.The Company acquired and invested in businesses, such as Vulcan Express Private Limited in 2014, each of PTap Delivery Solutions Private Limited, E-Agility Solutions Private Limited, Quickdel Logistics Private Limited, and Accelyst Pte Ltd and Accelyst SolutionsPvt Ltd in 2015, Unicommerce in 2017 and Newfangled Internet Private Limited (NIPL) in 2019. In April 2021, the Company removed certain shipping or cash-on-delivery charges that were previously charged to buyers and provide free shipping to buyers and increase their delivered units.The Company enhanced its capabilities designed to cater to value-conscious users by providing a seamless, end-to-end marketplace across product listings, fulfillment and user support, powered by technology and data analytics.

Coupled with a quality user experience, it created smooth, discovery-led buying journeys for value-seeking buyers, who visit their platform not only to purchase value-for-money products, but also for aspirational on-trend products without having to pay a premium for branded or expensive products. Apart from these, the advertising media focused on how the platform solves certain pain points of users and is delivered in English and multiple Indian languages.The Company is planning to come out with an initial public offer consisting of equity shares by raising capital of Rs. 1250 crore through fresh issue and by issuing upto 30,769,600 equity shares through Offer for sale.