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Cuponation Is The Latest Indian Startup In Coupons; Seems To Be A Rocket Internet Venture
Cuponation.in, a Delhi based start-up headed by Chirag Rakshit and Sahil Shah, is the newest deal and coupon site to hit the market. Cuponation offers deals on multiple products that can be purchased across a variety of e-commerce platforms. The site does not require registration; all the customer has to do is visit the site, access the code and make the purchase on the relevant e-commerce platform.
To explain further, in the start you have to select a shopping category of your choice. Then you click on your preferred e-commerce site discount option tab; a small pop-up window will open up which will allow you to copy the code and ask you to proceed to the site.
After making the final purchase you have to paste the coupon code in the designated box and your discount will be finalised. It really is as simple as that!
Chirag Rakshit, Country head of Cuponation.in says, “Seeing how this industry has shaped up in developed economies, it made perfect sense to launch a coupons website here given increasing internet penetration and online buyers. Coupons are a great business model and there is high demand for the same. CupoNation will succeed since it will help Indian buyers save while they shop.”
He made it clear though that the site won’t engage in the daily deals business.
In a time when coupon players are exiting the market, the entrance of cuponation.in surely raises some eyebrows. In an interview given to techcircle.in, Chirag clarified his stand by saying, “Coupons and deals have always been around, we’re just trying to optimise these in an online and later on in the mobile space. We aim to be different from other pure play couponing websites.”
On the back-end business front, Cuponation.in is part of a larger conglomerate. Thought the press release does not specify which, a bit of digging revealed they belong to the Rocket Internet group. Rocket Group is an international online venture builder. It has headquarters in Berlin and is founded by the Samwer brothers. The company’s business idea is to replicate successful online offerings (eg. eBay was replicated as Alando in Germany) and then get the original creators to acquire these similar sites (eBay acquired Alando for $50 million 100 days after its launch). Apart from Cuponation, which has presence in the South American and European markets too, it operates the e-tailer Jabong in India.
The reactions to this site that was launched on Tuesday are a tad bit on the unfavourable side as many tout it to be a copy of another deals and coupons site. But, all these chatter will prove irrelevant if the site manages to strike a chord with the audience. Only time will tell if that happens or not.
Image Courtesy | cuponation.in
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2012-09-20 23:00:44
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