The bittersweet relevance of Snapdeal 2.0

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Editor's note: Who doesn’t like a good comeback? There is an almost magical quality to it, captivating audiences, cheering for the down-and-out underdog, thus briefly inverting the survival of the fittest world. The recent Ashes Test victory of England over Australia qualifies as a once-in-a-generation comeback, unfolding in a matter of days. Some, like the boxing legend Muhammad Ali’s three world heavyweight titles, come with multiple highs and lows stretched over decades. However, there is a reason that comebacks are usually restricted to the sporting arena—in businesses, a “comeback” betrays an unwanted and maybe an unwarranted failure. Also, a comeback of what? Of your good old self? Or of your present shrivelled existence, mixed with the fondness for what used to be? “Comeback” is a term transposed from sports by management and promoters to signal barely surviving. Not a surprise then that Snapdeal is being sold as a comeback story. With the validation seemingly coming from the recent “Comeback Kid” award from The Economic Times to its co-founders, Kunal Bahl and Rohit Bansal. Snapdeal’s early investor Vani Kola (managing director at Kalaari …