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Line 55: === Snapdeal 2.0 === Following the unsuccessful plan to merge with Flipkart, Snapdeal pursued a new strategy it called ''Snapdeal 2.0''. The initiative saw the sale of non-core ~~businesses—~~businesses, [[Freecharge]] and Vulcan ~~Express—to~~Express, to dedicate more resources to Snapdeal's e-commerce marketplace, which is its core business.<ref>{{Cite web \|title=Axis Bank Buys Freecharge From Snapdeal For Rs 385 Crore In All-cash Deal \|url=https://www.moneycontrol.com/news/business/startup/axis-bank-buys-freecharge-from-snapdeal-for-rs-385-crore-2337463.html \|access-date=2021-02-05 \|website=Moneycontrol \|archive-date=9 November 2020 \|archive-url=https://web.archive.org/web/20201109025832/https://www.moneycontrol.com/news/business/startup/axis-bank-buys-freecharge-from-snapdeal-for-rs-385-crore-2337463.html \|url-status=live }}</ref><ref>{{Cite news \|last=Gooptu \|first=Biswarup \|title=Future Supply Chain Solutions buys Vulcan Express for Rs 35 crore \|work=The Economic Times \|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/future-supply-chain-solutions-buys-vulcan-express-for-rs-35-crore/articleshow/62662135.cms \|access-date=2021-02-05 \|archive-date=15 August 2023 \|archive-url=https://web.archive.org/web/20230815080148/https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/future-supply-chain-solutions-buys-vulcan-express-for-rs-35-crore/articleshow/62662135.cms \|url-status=live }}</ref> The strategy yielded strong results. From 2017 to 2021, Snapdeal's revenue grew by 74%{{Citation needed\|date=February 2024}} at its peak, while losses were cut by nearly 95%.<ref>{{Cite web \|title=How Snapdeal Is Turning Around Its Fortune \|url=https://www.forbesindia.com/article/take-one-big-story-of-the-day/how-snapdeal-is-turning-around-its-fortune/64189/1 \|access-date=2024-02-05 \|website=Forbes India \|language=en}}</ref> Between the financial years in 2018 and 2020, the number of unique customers on Snapdeal's platform also tripled to 27 million. More than 90% of Snapdeal's orders came from non-metro users.<ref name="auto" /><ref>{{Cite web \|last=Bhattacharya \|first=Ananya \|title=Snapdeal's comeback strategy seems to be paying off \|url=https://qz.com/india/1733893/snapdeals-comeback-strategy-seems-to-be-paying-off/ \|access-date=2021-02-05 \|website=Quartz India \|date=23 October 2019 \|language=en \|archive-date=6 December 2022 \|archive-url=https://web.archive.org/web/20221206224236/https://qz.com/india/1733893/snapdeals-comeback-strategy-seems-to-be-paying-off \|url-status=live }}</ref>

Snapdeal: Difference between revisions