Online marketplace Snapdeal.com has initiated a pitch to bring on board a new creative partner. The multi-agency pitch is happening in Delhi. The creative duties of the firm were being handled by Draftfcb Ulka.
Confirming this development, Sandeep Komaravelly, vice-president, marketing, Snapdeal.com, says, "Having built a wide assortment across 500+ product categories, we are now looking for a creative partner who will further help us strengthen our positioning as a one-stop destination for millions of online customers across India."
The company plans to launch a campaign with a fresh perspective, which will showcase and strengthen its leadership position in the Indian digital commerce space.
Snapdeal was started in February 2010 as a daily deal platform but later expanded into product retailing across various categories. Snapdeal claims to have a subscriber base of more than 20 million and has a presence across more than 4,000 towns and cities across India.
In June 2010, Snapdeal acquired Bengaluru-based group buying site, Grabbon.com. It then acquired esportsbuy.com, an online sports goods retailer based in Delhi, in April, 2012. Recently, the company acquired Shopo.in, an online marketplace for Indian handicraft products backed by Sequoia Capital.
In January 2011, Snapdeal received a funding of $12 million from Nexus Venture Partners and Indo-US Venture Partners. Subsequently, in July 2011, the company raised a further $45 million from Bessemer Venture Partners, along with existing investors Nexus Venture Partners and Indo-US Venture Partners, taking the total investment in the company to $52 million.