Snapdeal appoints Ullas Kamath and Anisha Motwani as directors on board
The company is considering filing a draft red herring prospectus (DRHP) in the next few months, joining a growing list of startups preparing to tap capital markets as the nation’s digital economy booms.
Last week, the company appointed Kaushik Dutta and Richa Arora as a director on its board. Dutta is chairman of Zomato and is on the boards of Policy Bazaar and HCL Infosystem, while Richa is the managing partner and CEO for ESG Stewardship Services at ECube Investment Advisors and has also been on the board of Tata Group’s e-commerce venture.
Snapdeal, which operates India’s leading Value E-commerce Platform counts BlackRock, Temasek, Foxconn, Premji Invest, Intel Capital, Bessemer Venture Partners, and Ratan Tata and could be valued at around USD 2.5 billion
Founded by Kunal Bahl in 2010, the new appointments will further strengthen its board ahead of the proposed IPO, joining the likes of new-age platforms such as Pharmeasy, Nykaa, Policybazaar
Snapdeal is India’s leading value e-commerce platform that has over the years helped Indian e-commerce grow beyond just brands and urban users. Neary 80% of Snapdeal’s users come from non-metro locations highlighting its deep reach across the length and breadth of the country
It hosts a wide selection of good quality, value-priced merchandise across fashion, home, beauty & personal care, general merchandise, and other categories. With more than 200 Million app installations, it is one of the top online shopping destinations in India.