Snapdeal could be going askme.com(AskeMeBazaar) way.
For instance, AskeMe.com hired popular celebrity Randhir Kappoor. Snapdeal too hired Aamir Khan(and dropped him abruptly).
Subsequently, AskeMe started listing out of stock items as available and processing their orders selectively only, for advance payments.
Thereafter, AskeMe held back refund(I guess, to earn from interest, tide over cash flow challenges, hoping for customers to forgo the loss, .).
Simultaneously, it started selling spurious(inferior) items. Finally, it went kaput(broke) before, anyone got a wind.
Sure, Snapdeal has topnotch investors backing it. However, Snapdeal could’ve been pedaling lies all along. So, like a ponzi scheme lies can’t sell all the time, every-time and to everyone.:)
Even in e-commerce space, everyone bets on the logic(business model) of the business. Finally, even if things turnout otherwise the management of the sovereign wealth funds and pension funds can only go so far and no further to cover their back.
Moreover, rising interest rate in developed markets have made things that much difficult to justify their investment calls in businesses like Snapdeal.