Fundraising platform Let’s Venture, Srinubabu Gedela, CEO, OMICS International, Avinash Vashistha, founder, Tholons Capital, and Rajiv Mehta, CEO, Arvind Lifestyle also participated in the funding round. Post the investment, Avinash Vashishta and Srinubabu Gedela will join The BlueBook’s board of the Directors.
Founded in the year 2013 by Stanford alumni Varun Kumar Akula, Alok Medikepura Anil, and Reetika Reddy, The Bluebook provides discounts from city’s popular outlets with validity throughout the week. It does not require a prior booking to avail the service at the selected outlet. Launched as a discount voucher book in 2013, The BlueBook transitioned into a mobile app in Nov, 2015 and as per an official statement, is now growing at a rate of 40% M-o-M growth.
“The capital raised will be deployed in consolidating the merchant and user base in Hyderabad, Bengaluru and Gurugram, apart from investing on the product and technology to offer deep customer analytics, loyalty solution for merchants and unique payment solution. We aim to be present in all major metros in the next few quarters with our full stack solution,” said The BlueBook co-founder and CEO Varun Kumar Akula.
The Bluebook works with brands such as Biereclub, Brewsky, Naturals, Bodycraft, O2 Spa, with a foothold in Hyderabad, Bengaluru and Gurugram. For consumers, The BlueBook operates a subscription model where users can pay a monthly fee of INR 99 (under $1.5) to avail all the discounts at the city’s popular restaurants, bars, cafes, spa, wellness and entertainment outlets. The redemption at the outlet happens with a 4-digit pin authentication.