Local ecommerce company Groupon recently acquired a small online couponing startup in India called SoSasta (which I’m told means ‘very cheap’). But the real leader in India’s digital coupon space is actually SnapDeal, which currently boasts over 1 million subscribers and has roughly 70 percent market share.
I caught up with Kunal Bahl, CEO of SnapDeal’s parent company Jaspers, at the DLD Conference in Germany to learn more about the business.
Turns out the company just closed a $12 million investment round, led by Nexus Venture Partners and IndoUS Venture Partners.
Now at roughly 300 employees, SnapDeal started out back in 2008 and will now use the funding to more rapidly scale its operations. It’s already live in 50 cities across the country, and boasts about 50,000 retailers in its database today.