wordpress blog stats
Connect with us

Hi, what are you looking for?

Groupon India reportedly raises $20 mn from Sequoia Capital

groupon (1)

Local coupon and deals generating platform Groupon India has raised ‘external funding’ of $20 million led by Sequoia Capital yesterday, TechCrunch reported from sources. We contacted Ankur Warikoo, CEO, Groupon India to ask about this development but he declined to comment on anything funding related.

More funding in the offing?

The report added that Groupon India is also planning to raise another round of funding this year and one next year, possibly aimed at separating itself from the US-based Groupon and becoming more autonomous. The report also mentioned that only some senior staffers knew about the deal, not the rest of the employees or public at large.

Groupon was formed in India after it bought the Indian platform SoSasta in early 2011. SoSasta founders Ananya and Udayan Bubna joined Groupon post the acquisition. Groupon was not immediately able to shift to the “groupon.co.in” domain because of domain squatting issues. The company was called Crazeal before it was renamed to Groupon in late 2012.

22% of Groupon India business through mobile, world revenues:

Advertisement. Scroll to continue reading.

Groupon reported that 22% of Groupon India’s business was generated through mobile in Q2 2014, while globally, mobile accounted for 50% of their business for the same quarter. The TechCrunch report added that Groupon’s international (non US) websites made $101 million in Q4 2014 out of the $925 million overall revenues it earned in Q4 2014. In comparison, in Q4 2013, international sites made $74 million out of the total revenue of $768 million in the same quarter. The rise in revenues is accounted to Groupon’s January 2014 acquisition of the Korean e-commerce company Ticket Monster.

Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ