CouponDunia, the Mumbai-based start-up has expanded its scope by getting into the cashback business. The company plans to spend Rs 15 crore on marketing initiatives in the next three months.
Launched in 2010, CouponDunia lists coupons and offers on its site for e-commerce websites in India that can be availed to save on a purchase. The start-up gets 4-5 percent commission from the merchants for every purchase made.
The same revenue sharing model will continue with the exception that around 70 percent of the commission will be passed on to the consumer. "Cashback is a natural progression for a coupon company. We have built loyalty with coupons and cashback will bring customer loyalty," said Ankita Tandon, Chief Operating Officer. The cashback is provided over and above any other deals or discounts that the online store provides, clarified Tandon.
With this revamped business strategy, the start-up expects to increase its user base and sales. Currently, it has a gross merchandise value (GMV) of Rs.1,000 crore, and is looking at scaling this up to Rs.4,000 crore in the coming year. It is also looking to grow its app downloads threefold, to 7.5 million from the current 2.5 million downloads.
The start-up has also changed its logo. Additionally, it has also launched a new browser extension for Google Chrome that gives users quick access to cashback, coupons, deals, and price comparison.
Published Date: Apr 29, 2016 15:48 PM | Updated Date: Apr 29, 2016 15:48 PM