Mumbai based Priceburp Media Pvt. Ltd. which owns Coupons and online deals portal PriceBurp.com has raised over $100K in a funding round led by Bright Ventures B.V, an early stage investment company from the Netherlands.
PriceBurp plans to use the raised funds to facilitate tech development and hire competent workforce, the company.
Nirav Dave, Founder & Director of Priceburp, “In a scenario while most of the ecommerce 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. The startup is already adding close to 1500+ coupons every week, for the 850+ stores, it has partnered with at present.
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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.”
The website covers categories including electronics, fashion, health & beauty, home & lifestyle and travel etc. Further, it plan is to expand to other important ecommerce categories as well including online education and other services.
Recent developments in the segment: