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Tune In To Fireside Chat With Rohit Bansal, Co-Founder Of Snapdeal At India Internet Day (IID) 2015

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India Internet Day (IID) 2015 being held at Delhi on 17 April is in its fourth edition.  India Internet Day is a by-product of TiE Delhi. TiE is a global community of entrepreneurs from all over the world. Tie was founded in 1992 by a group of successful entrepreneurs is currently world’s largest entrepreneurial organization out there. TiE at present has 61 chapters, spread across 18 countries with 12116 members.

Coming to India Internet Day, India has the third largest number of internet users in the world followed by USA and China. The number may reach to 350 million by the end of this year with most users in the age group of 25-34 years. India Internet Day is a platform to discuss new ideas, new horizons in internet space.

Here is an excerpt of one of the sessions Fireside Chat. In the session, Rohit Bansal-Co-founder & COO, Snapdeal was in conversation with Deep Kalra, President, TiE Delhi-NCR

Rohit Bansal did his Bachelors and Masters in computer science from IIT-Delhi.

Rohit and Kunal Bahl studied together in IIT-Delhi. Rohit was working with CapitalOne in India and Kunal was working with Microsoft in U.S. when a phone call from Kunal to Rohit changed their lives forever. They started as a coupon selling business offline. Two and a half years, both were struggling to make things happen but somehow this business did not proceed as per their expectations. Snapdeal happened when some merchants approached them and asked them to list their products in online space. Rohit made it very clear that since beginning they were open to experimentation and its the result of constant experimentation that Snapdeal happened. Within six months of Snapdeal, they realized that their products business was growing at a far huge rate than their coupons business and they made the shift.

Rohit shared that they have been extremely relentless in their journey. They were never broken by failures and always mustered the courage to rise again when they fell. Rohit also highlighted that they have been bankrupt almost thrice in their journey when they did not have money enough to pay their staff salary and wrote personal cheques to the tune of 6 Lakhs and therefore understand the importance of frugality. They just do not spend money frivolously. This is reflected in their office infrastructure.

Entrepreneurs have to love what they are doing otherwise things would not simply set in. Entrepreneurship has to come out of passion, out of love and nothing short of it. At the same time, as entrepreneurs, you can not expect the same kind of lifestyle as of their peers in jobs. There is more work and less entertainment in this. This lack of entertainment gap is filled when the entrepreneur loves his work.

On the periphery, things may seem rosy, people may label you as lucky, but nothing comes without hard-work. Entrepreneurs need to get things done for themselves and not wait for somebody to do it for them.

Another point is its very crucial to have family support system. Because, as an entrepreneur, he loved what he was doing but it was his family made most sacrifices.

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