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Under pressure, Snapdeal woos employees with promises of profit

Seeking to calm employees rattled by reports of a cash crunch, the founders of Indian online retailer Snapdeal have gone directly to them with a string of townhall meetings in past weeks, according to sources, promising profit and brushing off takeover talk. Like most ecommerce players in India, Snapdeal is burning cash to sustain discounts - and keep customers - in a cut-throat online market. But as the number three player, it also is under growing pressure from investors and its own employees to consider its bottom line, as well as market share.

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