Hyderabad-based MyZingo eCommerce Service Pvt Ltd, which operates the e-commerce portal BuyThePrice.com, has raised Rs 8.5 crore from the South African media conglomerate Naspers, reports TechCircle. The report states this funding was closed in February but hasn't been publicly revealed yet. MediaNama was aware of this development (through sources), and we had contacted Naspers for a confirmation, however, the company had declined to comment on the funding, last month. Note that both Naspers and BuyThePrice have not confirmed the funding to Techcircle. Prior to this funding round, BuyThePrice had raised an undisclosed amount from a series of angel investors including Google India MD Rajan Anandan, Rehan Yar Khan, Sunil Kalra and many others, although an Economic Times report pegs the funding at Rs 50 lakh. Quoting the company CEO Ranjith Boyanapalli, the report also stated that BuyThePrice had earlier raised an angel investment of Rs 20 lakh and a seed capital of Rs 10 lakh from friends and family. While there is no word on where the company plans to use the funding raised, Boyanapalli had stated in an interview to the publication in July that they plan to open offices in Bangalore, Chennai and Ahmedabad in the next 2-3 months. He had also stated that they intend to launch ad campaigns in cinema theatres. BuyThePrice was launched in March 2010 by Boyanapalli, who was previously the former Head of eTail for the e-commerce company eYantra, along with Tharachand Suryadevara and Jagdish Kothapalle. It currently has offices in Hyderabad, Mumbai and Delhi and claims to…
