Commerce that connects Bharat

This journey started in 2007. Anchored by our friendship that took shape in Class 11, when two naïve, starry eyed 16-year-olds first met and propelled over time by an eventual desire to build something impactful for our country. Over the course of this journey, we have built, re-built and grown. Succeeded, stumbled, scaled our businesses and built new ones. India has transformed profoundly since we started our entrepreneurial journey. When we began, the country had only a few million internet users. Witnessing the arc of India’s digital revolution - from those early days to over a billion connected users and the evolution of business models through this period - has been a journey of deep learning for us. And hence, our businesses are closely shaped by this growth and evolution of India's digital economy. Snapdeal started in 2010 as one of India's first digital marketplaces. As with other businesses built around that time, a majority of the buyers were from urban India, brand-aware and looking for great deals online. We made bold bets, received immense love from customers, faced intense competition, and continued to evolve as India’s growth deepened. Over time, e-commerce grew beyond the metros to become a way of life for users in mid and small cities. Categories expanded, cohorts became bigger and connectivity blurred distances and differences. In 2017, realising we needed to pick the segment of the market we want to focus on, we returned to our roots - not to grow faster at any cost, but to grow truer with a focus on financial sustainability. We rebuilt Snapdeal for the real Bharat - value-wise, trend-aware, everyday shoppers, with smartphones in hand, unlocking a world of aspirations once out of reach. Snapdeal 2.0 is crafted with care - from catalogue to checkout - designed for how Bharat shops. Today, over 80% of our orders come from beyond India’s biggest cities. The heart of our marketplace beats in Bharat. In getting closer to Bharat, we deepened our bond with the sellers who are driving this growth. Their awareness of customer preferences in terms of price, quality and design is second to none. What was needed was the technology for them to adapt their knowledge to the needs of digital commerce. This widely-felt need for technology became the lever for Unicommerce’s rapid growth to become the de-facto operating system of Indian e-commerce brands. We began building Unicommerce with a broader focus and purpose after acquiring it in 2015, when it was still a promising kernel. Today, Unicommerce processes over 1 billion order items annually, supports 10,000+ Indian brands, and delivers on its mission every day - simplifying commerce through the quiet strength of technology. In 2024, Unicommerce went public to be met with an overwhelming response. Acquiring, nurturing and growing Unicommerce has been a profound lesson in how integral technology is to modern digital commerce. Just as location is key to physical commerce, technology is key to digital commerce - from efficiency to experience, from saving to scaling. Building on its strong foundation and deep user connect, Unicommerce has successfully acquired and integrated logistics management platform, Shipway along with Convertway, which provides technology solutions for e-commerce marketing. With this, Unicommerce now delivers full-stack technology solutions for Indian e-commerce and we will keep expanding our offerings to simplify e-commerce selling. As we grew deeper into Bharat, we kept hearing a consistent message from consumers - they sought brands that understood their aspirations, and reflected their style. That insight inspired Stellaro Brands. With Rangita, our first brand, we set out to bring high-quality, affordable, design-led ethnicwear to young women. In a short period of time, Rangita has been embraced by lakhs of women across India - through leading marketplaces, through its own omni-channel enabled physical stores in mid-size cities like Kakinada and Kurnool and through its own website. In our journey till now, what started as a marketplace, has evolved into a digital commerce ecosystem that strategically combines a mass-market platform with millions of customers, a leading technology platform that powers tens of thousands of India’s online businesses and brands that serve an aspirational Bharat. In 2022, we gave this ecosystem a name - AceVector. ‘Ace’ reflects how we work - with deep operational expertise, long-term focus, transparent governance and a relentless pursuit of excellence. ‘Vector’ symbolises our well-defined direction today and the ones we will chart in the future. AceVector is more than a sum of its businesses. Within AceVector, all our businesses mesh with each other - providing opportunities to strengthen each other’s growth. Together, they form a flywheel, turning faster with every cycle of growth. But more importantly, they connect us to countless growth opportunities externally - allowing us to keep widening the aperture and address emerging opportunities to build new businesses, acquire promising ones, scale them and unlock value. Most importantly, we are incredibly proud of the remarkable team that has made this journey possible - with great resilience, hard work and unwavering focus. We are also deeply grateful to all our partners who have believed in us and have grown with us. We are excited for what lies ahead. India’s digital commerce story is just beginning, and we are all in. Kunal & Rohit