Why VCs should look at mydala.com’s growth closely?
By ajay at July 21, 2011 | 4:46 pm | Print
mydala.com, India’s first and largest group buying/social commerce portal offering city-specific deep-discount deals, today announced that it has crossed the 3 million subscriber mark. It becomes now number 1 group buying site in india.
The mydala network is now generating traffic of more than 250, 000 visitors every day. The group has a funding of Rs. 9 crores from renowned private equity financiers Info Edge (owners of Naukri.com, India’s largest job portal) and Rs. 1.1 crores by founders of CX Partners, a $600mm PE fund.
MyDALA:
mydala is India’s first and largest group buying portal that offers deals 40% to 97% off on the best stuff to do, eat, see, and buy in major cities across India. While many of the deals are city-specific, mydala also features several pan-India deals which can be bought in any city across the country.
According to Anisha Singh, Founder & CEO of mydala.com says, “We have sold more than 350, 000 vouchers till date, through our partnerships with more than 8,000 popular merchants across India. We have the highest number of over 1200 concurrent deals in the group buying space.
From just 4 employees in 2009, we have now grown to a team size of over 60 people and continue to hire more, so that we can identify, negotiate and source more value-adding deals for our customers. Each day, we try to source better and better deals for customers, provide friendlier customer care, and shorten our response times.”
The recent funding has been very timely for us as we move into the next phase and pioneering more innovative concepts in online buying in India.
Best Thing Is:
With a clear focus on continuous innovation, mydala.com has also introduced a “personalization engine” on its portal, which helps subscribers match and pick deals that are relevant to them, and have a choice of not receiving offers that are not relevant for them.
Visionwiz’s Views:
This company certainly have a potential to grow big.In our views VCs should look out this company’s progress closely.
More at:http://www.mydala.com/
