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Snapdeal Raises $12M Funding; Launches BabyBox, MoneySaver Prime, Plans Acquisitions

Jasper, the consumer marketing company that owns daily deals website SnapDeal,  has raised $12 million from Nexus Venture Partners and IndoUS Venture partners as part of second round funding, according to TechCrunch. Jasper’s other ventures include Moneysaver, a coupons and rewards programs and the upcoming BabyBox, which is a website plus an offline advertising and sampling program. Last year, Jasper had set aside $2 million for acquiring new innovative businesses in India and had bought Bangalore based group buying site Grabbon, which, as Jasper CEO Kunal had said in a recent interview with MediaNama, will be relaunched in February 2011.

Jasper intend to use the funding to acquire daily deals/group buying firms in Malaysia, Thailand, Philippines and Indonesia, Bahl told VCCircle.com: it is eyeing 6-7 ventures in the range of $25,000 to $1 million and plans on stock and cash deals, in addition to more domestic acquisitions. The company is already present in Sri Lanka, Nepal, Bangladesh, Maldives and Singapore.

Launches BabyBox.in

Jasper launched a consumer marketing venture called BabyBox.in around three months ago: on the face of it looks like any other website providing information and expert advice to potential and expecting parents, but it focuses on building an offline database of parents of newborns.

According to Bahl, BabyBox has exclusive tie ups with over 3,000 hospitals and maternity centers across all major cities, where it distributes free “baby boxes” to parents of new borns with product samples of baby products and gift & discount coupons from advertisers in return of their personal details. The company gets the socio-economic data of these families and can keep track of the age of the baby as well. Advertisers ranging from FMCG companies who want to market baby products, to insurance and schools. While the business has an online presence at BabyBox.in, where it provides information to the parents, Bahl says they have no plans of getting into e-commerce at the moment. Instead, Babybox carries offers from e-commerce ventures like that sell baby products babyoye.com and hushbabies.com.

Moneysaver Prime

Jasper’s rewards and coupons platform which runs customized rewards and discounts programs for third party clients including co-branded credit cards, has launched its own rewards card, Money Saver Prime, which gives access to deals and discounts in 10 cities of India. The card comes at a charge of Rs 2,999, and the company claims it is acceptable in more than 10 cities in India, with over 3000 merchants and over 500,000 customers. According to Bahl, the company gets a percentage of every transaction done on the card. As an owner of an alternate network, MoneySaver charges a licence fee from third parties who give offers to their customers through coupons, tie-ups and catalogues via MoneySaver.

Competition

Jasper claims 70% marketshare for SnapDeal, but keep in mind that there’s more to their business than just the daily deals. On the deals front, they compete with ventures like India Today and Axel Springer backed BagItToday, Accel Partners and Helion Venture Partners backed Exclusively.inIndo US Venture backed Jasper / SnapDeal, Sequoia Capital backed FashionAndYou.com, Battery Ventures backed Taggle, Angel investor backed MyDala, Ebay India’s Social Shopping, and of course, SoSasta, which GroupOn recently acquired.

Nikhil adds: GroupOn must have acquired SoSasta because it must have been exactly that – so sasta. (just kidding)

Related:

LetsBuy.com Raises $6 million From Helion, Accel & Tiger Global
eBay India Launches Social Shopping
ECommerce Portal BuyThePrice.com Raises Funding From A Clutch Of Angel Investors
Fashion And You Raises Around $8 Million From Sequoia Capital India
What’s The Deal With The Group Buying Space In India? One HUGE Positive

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ