Coupons and online deals portal PriceBurp.com, owned by Mumbai based Priceburp Media Pvt. Ltd., raised under $100K from Bright Ventures B.V, an early stage investment company from the Netherlands. The investment will be used to facilitate tech development and hire competent workforce, the company announced. "Indian consumers have pre dominantly been very cautious when it comes to shopping online. The recent spur in the number of people now comfortably purchasing everything online, right from a pair of shoes to mobile phones, is a sign that this market is now open and acceptable to online shopping. This has mainly happened in the last 2 years with innovations in payment methods like COD and mobile payments and the growth of mobile phones. The flexible exchange and return policies have further added to the consumers confidence to shop online," said Nirav Dave, Founder & Director of Priceburp.
"In a scenario while most of the e-commerce websites are eyeing for conversions, coupons come in handy to induce a prospective buyer and convert his intention to purchase in a sale transaction. Coupon Sites, like ours, come into picture at this point and help these retailers"
According to estimates today there are more than 200+ coupon sites and the competition is only growing. In such a scenario Priceburp has targeted to grow its store partners to 2500+ stores by November 2014 and become the largest coupon site in India. It is already adding close to 1500+ coupons every week, for the 850+ stores, it has partnered with at present.
Currently, the site has covered most of the categories including coupons and deals for electronics, fashion, health & beauty, home & lifestyle and travel etc. Their plan is to expand to other important ecommerce categories as well including online education and other services.
When asked about how they are going to differentiate themselves from the other coupon players in India, Nirav Dave said, “This business is not an innovation or technology lead. Every other coupon site is either a theme based portal with 50- 100 stores or clone of one another. In such a situation it is important that the consumers get the best possible working coupons and discounts they are looking for once they are on your site. We check our coupons every single day and remove all the expired coupons to ensure our users have an enjoyable shopping experience.”
Furthermore, he also mentioned that Priceburp will soon be announcing a partnership, which is not heard of in the coupons industry, and this will enable them to stand out from the current coupon competitors in India.
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