20 April, 2016, Bangalore: Snapdeal, an online market place is now planning to monetise its zero commission marketplace Shopo. It was launched in 2015 and now serves as an online platform for small sellers and homepreneurs. Currently, Shopo claims that it showcases products by 1 one lakh merchants across 800 cities.
Sharing his views on company’s plan, Sandeep Komaravelly, Senior VP, Shopo said, “We are working on monetisation and by the next quarter will introduce it in a phased manner. We are looking at advertising on the platform and product listings on the platform to generate revenues. The model will continue to be commission free.
Snapdeal launched Shopo after receiving enormous requests from small sellers since they also wanted to get associated with the company. “Almost 80 per cent of the in-bound requests on the Snapdeal marketplace comes from small businesses. The percentage of overlap of sellers between Shopo and Snapdeal is very less. For Shopo, the process of on-boarding and verification of sellers is faster,” adds Komaravelly.
Snapdeal is India’s one of the biggest online marketplaces. Ventured into the market in 2010, company is a brain child of Kunal Bahl and Rohit Bansal. Snapdeal is backed up by SoftBank Corp, Ru-Net Holdings, Tybourne Capital, PremjiInvest, Temasek Holdings, Bessemer Venture Partners, IndoUS Ventures, Kalaari Capital, Saama Capital, Nexus Ventures, Intel Capital and Ratan Tata.