"We want to build the most trusted digital marketplace in India for small businesses to sell to consumers across the country and just invest heavily in the technology behind that and the ecosystem of partners around it," co-founder Kunal Bahl.
There are reports surfacing that Alibaba, which is set to launch the world's largest IPO On Friday, is possibly looking to enter India through an investment in Snapdeal . While Snapdeal has refused to comment on these reports, co-founder Kunal Bahl, in a chat with CNBC-TV18's Farah Bookwala Vhora, explains how Snapdeal is looking to replicate Alibaba's model, a comparision that lends credence to news on the potential developments.
"We want to build the most trusted digital marketplace in India for small businesses to sell to consumers across the country and just invest heavily in the technology behind that and the ecosystem of partners around it. We believe that as a technology company the operating leverage in our business is very significant where we don't have to make disproportionate investments behind the platform to keep generating velocity of sales. Over a period of time the network effects in the business are significant enough, like Alibaba in China which is the business we are most similar to, generates USD 5 billion EBITDA a year, there is a reason for it. They are not a retailer, they are a technology platform and that gives me confidence that in due course as we achieve significant scale we will see similar economics emerging out of our company as well," Bahl said.
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