Ratan Tata's leadership of the Tata Group from 1991 to 2012 significantly transformed the conglomerate into a global powerhouse. In addition to his remarkable achievements as an entrepreneur, he also demonstrated a keen interest in investing, supporting over 50 new-age Indian startups across various sectors.
He made his first investment in the e-commerce marketplace Snapdeal in 2014, at a time when India's startup ecosystem was just starting to gain traction. Tata also went on to invest in companies like Bluestone, CarDekho, Urban Company, Ola, FirstCry, and Lenskart.
Following Ratan Tata's passing, Kunal Bahl, co-founder of Snapdeal, honoured the Indian industrialist by sharing a video of their interaction, describing it as a "special moment" for him.
“A lot is deservedly said and will be said about Mr. Tata’s greatness. What must also be spoken about is his incredible sense of humour. This moment will always be special for me,” he wrote on X.
In the video, Bahl reminisced about his first meeting with Ratan Tata. He said, “it’s like you meeting someone you have seen over the years, on TV, in newspapers, never thought would meet in flesh and blood. I was extremely nervous.”
He recalled entering Tata's office, where Tata surprised him by pulling up a chair and sitting beside him. Tata then praised Snapdeal’s growth, saying, “Your growth story is amazing, how do you manage your logistics?” Bahl shared the incident in a video post.
Bahl mentioned that when he asked Tata what prompted him to consider investing in young startups like his, Ratan Tata replied that he felt just as nervous sitting six inches away from him.
Snapdeal was valued at $6.5 billion in 2016, making it the second-largest e-commerce company in India at the time. The company was valued at over $800 million (Rs 6730 crore approx.) in 2021.
According to an ET report, the company's loss-reduction measures also led to revenue decreasing to Rs 388 crore in FY23 from Rs 564 crore in FY22. E-commerce company Snapdeal reported a consolidated loss after tax of Rs 282.2 crore for FY23, a decrease from Rs 510 crore in FY22, as per the company's RoC filing.
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