Snapdeal.com, India’s leading e-commerce company, has been declared a Winner of Red Herring Asia Awards 2011, which took place in Hong Kong last week.
Red Herring’s Top 100 list has become a mark of distinction for identifying promising new companies and entrepreneurs. “Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across Asia to the Top 100 Winners. We believe Snapdeal.com embodies the vision, drive and innovation that define a successful entrepreneurial venture. Snapdeal.com should be proud of its accomplishment, as the competition was very strong.”
“As Snapdeal continues its exponential growth trajectory, and rapid expansion into products e-commerce, we see this recognition by Red Herring as a commendation of our team’s efforts over the last 18 months to build a best in class internet brand and technology company in India.” says Mr. Kunal Bahl, CEO of Snapdeal.com.
Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Asia.
Snapdeal.com is India’s fastest growing e-commerce portal that features attractive offers everyday (50 – 90% off) on Dining, Health & Beauty, Entertainment, Travel and Branded Products like Electronics, Perfumes, Watches, Bags, Sunglasses, Mobile phones, among others across 50 cities in India. Snapdeal has been rated the #1 e-commerce site in India by Dataquest/Sapient E-commerce Survey 2011. With a fast growing member base of over 10 million, Snapdeal is amongst the 20 most visited websites in India (as per Alexa) and is adding around 3 new subscribers every second!