Snapdeal's losses widen 125% in FY16; falls to third spot

"In FY16, we invested our capital in building our capabilities across technology, logistics and seller ecosystem to support the long term growth of our business," a Snapdeal spokesperson was quoted in the report as saying. 

Snapdeal's losses widen 125% in FY16; falls to
Snapdeal has posted a 125% rise in its losses against a 56% rise in its revenues for FY16. Snapdeal lost its second spot in the domestic e-commerce market to Amazon India. Photo: Official Website

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