Snapdeal co-founder and CEO Kunal Bahl has said that by March 2016, his company will beat the reigning online marketplace leader Flipkart in terms of sales.
"The one thing I am very, very clear about right now is that I think we're going to be No. 1 (in terms of sales) by March 2016. I think we're going to beat Flipkart by then," he told The Economic Times in an interview.
Bahl said that Snapdeal's gross merchandise value (GMV) reached $4 billion (about Rs 26,000 crore) in August, up from $1 billion a year ago. GMV refers to total value of goods sold by an online retailer.
"It took us two-and-a-half years to reach GMV of $1 billion, a milestone that we reached on July 31 last year. This month we've crossed $4 billion. It took us only a year to go from $1 billion to $4 billion. We hit $3 billion about three-odd months back. The acceleration has been very significant," said Bahl.
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