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Snapdeal cuts losses by 71 per cent fiscal 2018-19

Snapdeal has cut its losses by 71 per cent this financial year. The e-commerce marketplace’s consolidated revenues grew 73 per cent in the 12-month period. Revenue from operations grew 87 per cent with a significant reduction in the cost base.

This year Snapdeal continued its focus on driving growth a lean and capital-efficient foundation in its business. The company achieved a significant milestone when it reached cash break-even in the month of June 2018 and also made the highest ever net revenue in October 2018. Each and every order is fulfilled on Snapdeal is by independent, third-party seller partners. In the last two years, Snapdeal has sharpened its focus on the needs of the value-conscious buyers in India. More than 80 per cent of its users come from small towns and cities of India. Snapdeal now has more than 5,00,000 registered sellers, who have more than 200 million listings on the marketplace. The doubling of Snapdeal orders in the last one year is actually a two-fold increase in the business of the seller partners on its platform, the majority of whom are small businesses.

The market of nearly 400 million potential buyers in the small towns and cities of India is the fastest-growing segment in Indian e-commerce.

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