CouponDunia launches cashback service, aims to grow revenue by four times

Online couponing platform CouponDunia aims to grow revenue by fourfold to $20 million (roughly Rs. 132 crores) this fiscal as it launches new services such as cashback for customers. The company, which counts e-commerce firms like, Flipkart, Amazon, eBay and Jabong, among its clients, is also aiming to expand the total value of transactions through its platforms (GMV) to Rs. 4,000 crores by the end of March 2017. “Our aim has always been to be the pre-shopping destination that consumers visit before making any transaction online. With cashback, we are a step closer to that goal,” CouponDunia Chief Operating Officer Ankita Tandon told PTI. With cashback, customers will be able to make additional savings on their transactions over and above any other deals or discounts that the online store provides, she added. “With this revamped business strategy, we expect to substantially increase user base and sales. Currently, we facilitate a gross merchandise value (GMV) of Rs 1,000 crores, and we should be able to scale this up to Rs. 4,000 crores in the coming year,” she said. Similarly, the revenue should also grow fourfold from $5 million (roughly Rs. 33 crores) in FY16, Tandon added. The Times Internet-backed firm is also looking to grow app downloads threefold to 7.5 million from the current 2.5 million downloads. Founded in 2010 by Sameer Parwani, the company is headquartered in Mumbai with a tech office in Bengaluru. It receives about 10 million visits a month and shares coupons from over 2,000 online brands. PTI