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Havish Gupta
Figuring Out • 7m
Snapdeal is now almost profitable! So Snapdeal recently released its financials, and they’ve killed it! Their cost-reduction measures have led to their EBITDA loss dropping to just ₹16 crore in FY24, down from ₹144 crore in FY23. While their revenue only just a 2% increase to ₹379 crore, the overall performance is still commendable. Snapdeal’s primary revenue streams include marketing services, e-commerce enablement, and other ancillary sources. Marketing services remain the largest contributor, generating ₹252.55 crore in revenue. The cost reductions were primarily driven by two factors: 1. A 48% reduction in employee benefits, saving ₹159 crore. 2. A 23% decrease in advertising expenses, bringing the total down to ₹76 crore. Although the overall net loss saw a 43% reduction, reaching ₹160 crore, its still almost cash flow positive. They are also planning an IPO, by the way! Ig, Kunal Bhal'a debut in Shark Tank had a great impact on the company! what do you think?
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