CupoNation aims to create one of the largest network of online coupon portals in the world. In Europe and South America, as well as in other emerging markets, it aggregates coupons, deals, and vouchers for several categories, ranging from items like Electronics, Books, Apparels, Flowers, Gifts to services like Insurance, Restaurants, Movies, etc.
CEO Sahil Shah, who co-founded the (Gurgaon-based ) Indian arm of CupoNation along with Chirag Rakshit, told us something more about himself, the venture and their plans.
FinSMEs: Hello Sahil, thank you for joining us. First, can you tell us a little bit more about you?
Sahil: “I am currently leading the India chapter of CupoNation from New Delhi, India. Prior to this I have worked at the Monitor Group where I devised strategies for leading India conglomerates. I have done my B.Tech in Chemical Engineering from Indian Institute of Technology“.
FinSMEs: Let’s speak about CupoNation…What is it?
Sahil: “It is an aggregator of online coupons for e-commerce portals in India. We publish coupons from all the online retailers across India“.
FinSMEs: Tell me something more. How does it work?
Sahil: “Customers visit our website and get the best deals on the internet for free. They can use these vouchers on their favourite stores and avail fabulous discounts“.
FinSMEs: What’s your business model?
Sahil: “For every order that comes from our website, we get a pre determined commission from the retailer. This could be in the form of percentage of transaction value or a flat amount. So we get the commissions only for sales generated through our website“.
FinSMEs: Could you introduce us to the other team members?
Sahil: We have a dedicated online marketing team and a sourcing team which ties up with retailers to offer the best deals.
FinSMEs: Financial resources: an issue for a startup, of course. Are you seeking funds? What can you tell us?
Sahil: “In terms of funding, we are not looking for funding right now and are funded by an international group of investors. We are funded in the vicinity of higher 1 digit million euros“.
(German online startup incubator Rocket Internet is the primary investor in the company).
FinSMEs: What’s your future plans?
Sahil: “We want to be the leader in the online couponing market in India. We are tying up with retailers for exclusive deals and voucher codes to provide discounts to our customers which are not available anywhere else“.
FinSMEs
14/12/2012