Snapdeal just like groupon got funding at right time?

By ajay at January 29, 2011 | 10:59 am | Print

Snapdeal just like groupon got funding at right time?

Have you heard about Snapdeal? Snapdeal is just like a groupon. However,Snapdeal is focusing for india market only.SnapDeal is India’s biggest daily deals website.

Snapdeal:

It is offering daily discounts coupon which is up to 90% off on Restaurants, Spas, Beauty Services, Travel, Adventure Sports, and more. SnapDeal is offering deals in all major cities like Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Kolkata and Pune. You can buy the deal without subscribing with them.

Easy To Use:

Just click the “Buy” button and fill in your email id and mobile no & make the payment online. They’ll send you a SnapDeal voucher over email and SMS.

Fastest Growing:

Snapdeal has done well since its launch of two years back, they are capturing around 70%market in coupon business. Its subscriber base has reached up to 1million.Its not small number considering India’s internet industry market, which is still not as big as in US. Snapdeal is covering more than 50 cities across India with 50,000 retailers on their site.

Major Concern:

We think Snapdeal has got funding at right time.Why? Because just few weeks back Groupon has also entered in Indian market by acquiring soSasta site(which is also offering 50%to90%discount coupon). Sosasta work around 11 cities at present in india. (Sasta” in Sanskrit mean “cheap).

So, Snapdeal have now one big competitor which can capture their market fast.

Got Funding:

Snapdeal got $12million funding from Nexus Partner and IndoUs Venture partner.

Who Is Behind This Company:

Kunal manages the strategic vision, key business relationships, fundraising and growth plans for Jasper. An engineer from University of Pennsylvania, with a business degree from The Wharton School and an executive marketing program at Kellogg School of Management, Kunal has a variety of entrepreneurial experiences.
SnapDeal is a product of Jasper, which is a leading marketing company in India. Jasper has led the way in multi-channel direct marketing solutions with clients that count themselves leaders in their respective industries. The company was founded by marketing, technology, retail and analytics professionals to address a need for high-quality, cost-effective customer management for consumer brands.

Visionwiz’s Views:

Perfect timing considering groupon entry in india market.

More at:Snapdeal

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