Online marketplace Snooplay registered a 6.3X spike in its revenue reaching Rs 2.57 crore in FY23. The same year saw over Rs 2.3 crore of the total revenue coming in from the company’s operations.
Previously, the company recorded a revenue of Rs 41.7 crore in FY22, with a majority of it coming in from operations.
Aanchal Mahajan and Brij Raj Singh led Snooplay is an online marketplace for toys and games for people of all ages, as well as those with special needs. It aims to use AI to help people find the right toy or game based on their personalities, interests, skills, and developmental goals.
The platform is additionally developing a discovery platform that offers its customers a wide collection of toys and games (sourced domestically and globally) to easily identify what to buy.
The four-year-old company has raised about Rs 4.3 crore in its maiden funding round. The fundraise was held in mid-2022 and was led by Amogh Kumar Gupta.
Post the infusion of the investment, the founders hold an equal majority of over 40% each while investors hold Ajay & Amogh Kumar Gupta hold the remining shares. The company’s valuation stands at Rs 13.34 crore.
Snooplay’s expenses widened almost 8X to Rs 3.23 crore in the fiscal year ending March 2023. While cost of materials took up over 35% of the total expenditure, advertisement costs and employee benefit costs took up more than 20% and over 10% respectively.
The Delhi-based company e-commerce platform incurred losses amounting to Rs 65.7 lakhs. Its currently EBITDA stand at -24.44% and ROCE is at -52.89%. In FY22, the company’s losses amounted to Rs 29,300.