INSUBCONTINENT EXCLUSIVE:
E-commerce company Snapdeal became cash flow positive in June, co-founders Kunal Bahl and Rohit Bansal said
"We now have achieved the milestone of earning money from our business
This is an incredible achievement for our company and industry, and one that puts us on the path to financial independence and the freedom
to pursue long-term growth on our own terms," Mr Bahl and Mr Bansal wrote to the families of team members in a letter dated July 23
the full text of the co-founders' letter to Snapdeal employees:Dear Family,The last ten months at Snapdeal have been one of immense focus,
determination and sharp execution
We exited a period of great uncertainty in July last year and strode ahead confidently on our chosen path to create a self-sustaining
business.Setting ourselves well-defined goals of cost optimization and growth, our team has pursued our plans with clarity, conviction and
The journey has been demanding, yet one that we have pursued with great enthusiasm and unrelenting resolve
This collective effort of the outstanding Snapdeal team has led to a spectacular outcome.It is with great pleasure and pride that we share
with you that Snapdeal was cash flow positive in the month of June 2018
Simply put, we now have achieved the milestone of earning money from our business
This is an incredible achievement for our company and industry, and one that puts us on the path to financial independence and the freedom
to pursue long-term growth on our own terms.It is also a matter of immense pride that Snapdeal is the first and only e-commerce platform in
India that has achieved this milestone
And we have achieved this ahead of the demanding timelines that we had set for ourselves.This success and special milestone belongs to all
of us - not only in the office, but equally also to all of you at home
2017 was a challenging year for us, however, the immense support that our team got from their families, at a time when very few people
believed in the ability of Snapdeal to get back on its feet, has played the most critical rose in keeping the spirits high and our execution
focused.Our undivided attention and hard work at office is built on the foundation of the support and understanding that our team members
It is only with your encouragement and motivation that our loved ones are able to go from strength to strength, from one success to another,
not worrying about what the outside world says.You would also be happy to know that many stellar professionals have joined Snapdeal in the
last few months including at senior leadership positions
It would be even more heartwarming for you to know, that many former SDians have returned over the last few months, which further reinforces
the confidence in the company and its progress.The trail blazing achievement belongs to Team Snapdeal, of which you are an integral and
We want to take this opportunity to convey our heartfelt gratitude to you for being so supportive of your loved one at Snapdeal, especially
in our company's time of need.With the achievement of this significant milestone, we have no current or future dependency on any external
funding, which gives us the opportunity to catalyze growth in an impactful manner
While you may keep hearing about us in the media from time to time, maybe sometimes not in the most flattering light, but we want you to
know the company is in a very safe zone now and while we have achieved cash flow positive levels in June, we may choose to invest more
aggressively in growth going forward.We are confident that with your continued support, love and blessings, Snapdeal will achieve many more
milestones and still greater heights.With warm personal regards,Kunal Rohit
