Rocket Internet, a German incubator is foraying into discount business with launch of a coupon website called CupoNation.
The Gurgaon based coupon site offers deals on multiple products that can be purchased across a variety of e-commerce platforms. The site is already active in Europe, South America and other emerging markets.
The site offers discount coupons, deals and vouchers on products like Apparels, Electronics, Books Flowers, and Gifts. It also offers discounts on services like movies, insurance, food joints and more.
Co-founded by Chirag Rakshit and Sahil Shah, CupoNation is already live in Poland and plans to expand in Italy, Spain and Brazil by end of 2012.
Chirag Rakshit, Country Head of Cuponation.in said in a company statement, “Seeing how this industry has shaped up in developed economies, it made perfect sense to launch a coupons website here given increasing internet penetration and online buyers. Coupons are a great business model and there is high demand for the same. CupoNation will succeed since it will help Indian buyers save while they shop.”
Unlike competing websites which require a user registration to access coupon codes and deals, there are no such barriers to avail the offers CupoNation. The website’s users do not have to sign up before viewing the codes and promotional deals are distributed completely free of charge.
FabFurnish and Jabong are among the first companies advertised on CupoNation India, while GlossyBox, eDarling and Westwing are first in line at CupoNation Poland – all five are Rocket Internet portfolio companies.
The Samwer brothers, founders of Rocket Internet are seemingly late entrant into a rapidly expanding Indian e-tailing market, but have pumped in close to $50 million into their 3 Indian ventures, and have plans of setting-up more sites, most interestingly, a replica of e-bay for the Indian consume
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