BENGALURU: Online marketplace Snapdeal 's losses doubled to Rs 2,960 crore for the fiscal year ending March 31, 2016 compared to Rs 1,319 crore in the previous year, according to regulatory filings sourced from a business research platform Tofler.Snapdeal, which was seen as a strong competitor to leading e-commerce players Amazon and Flipkart till not long ago, reported total revenues of Rs 1,456 crore in the same period - a 50% increase from last year. This puts the overall losses by the three leading e-commerce companies in India - Flipkart (Flipkart Internet and Flipkart India), Amazon and Snapdeal - to the tune of Rs 9,382 crore in financial year 2015-16.A major chunk of losses for Snapdeal came on the back of its continuous erosion of market share, mainly to the US e-commerce major Amazon, which has been burning around $80 million monthly and has invested close to $1 billion during 2016 calendar year."In financial year 2016, we invested our capital in building our capabilities across technology, logistics and seller ecosystem to support the long-term growth of our business," a spokesperson of Snapdeal told TOI in an email. Snapdeal's advertising and promotional expenses stood at Rs 469 crore for the period under review compared to Rs 426 crore a year ago.Last year, Snapdeal announced a Rs 200-crore marketing campaign along with a new logo to regain lost ground in the run-up to the annual festive season. But the online retailer's sales from the crucial period were far lesser compared to bigger rivals like Amazon and Flipkart. Even as the company struggled, it undertook a management reshuffle in November in its attempt to accelerate growth.Backed by the likes of SoftBank and Alibaba, Snapdeal lags behind on the e-commerce sweepstakes, and has found it difficult to raise fresh capital at its $6.5-billion valuation. Amazon managed to double its revenue to Rs 2,275 crore even as losses spiralled to Rs 3,572 crore.