Snapdeal.com, a leading e-commerce company, has been declared the winner at the Red Herring Asia Awards 2011, which took place in Hong Kong last week.
Red Herring’s Top 100 list identifies promising new companies and entrepreneurs. “Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, Publisher and CEO, Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across Asia to the Top 100 Winners. We believe Snapdeal.com embodies the vision, drive and innovation that define a successful entrepreneurial venture. Snapdeal.com should be proud of its accomplishment as the competition was very strong.”
“As Snapdeal continues its exponential growth trajectory, and rapid expansion into products e-commerce, we see this recognition by Red Herring as a commendation of our team’s efforts over the last 18 months to build a best in class internet brand and technology company in India,” said Kunal Bahl, CEO, Snapdeal.com.
Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Asia.