Snapdeal, the struggling Indian ecommerce company, has called off talks on a sale to rival Flipkart that had been pushed by SoftBank, its biggest shareholder. The company, which has been steadily losing market share to Flipkart and Amazon’s Indian subsidiary, said that it would seek to reinvent itself under a strategy that it dubbed “Snapdeal 2.0”.
But Sanchit Vir Gogia, Chief Futurist, Founder and CEO of Greyhound Knowledge Group, said that a change in management was likely as Snapdeal’s investors sought to salvage value from the company. Mr Bahl’s and Mr Bansal’s inexperience was highlighted by the company’s inability to keep up with Flipkart and Amazon India, he said. “This is a classic illustration of why the founder should not always be the CEO.”
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Sanchit Vir Gogia: Sanchit is the Chief Futurist, Founder & CEO of Greyhound Knowledge Group, a Global Strategy & Transformation Research, Advisory & Consulting Group. He also serves as Chief Analyst & CEO of Greyhound Research, a Global, Award-Winning, Independent Technology & Innovation Research, Advisory & Consulting firm. To read more about him, click here.
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