Coupay Expands It Service By Launching Into India.
A social commerce site for people to find and list coupons, get cashback, discover new products, and earn money from a social sharing, Coupay, has recently launched its operation India. This site allows users of social networks to earn money their sharing and if a purchase is made, then both parties earn a cashback. Each new customer on Coupay during the month of June shall receive a free INR 200 (US$3) credit to their Coupay accounts.
During the launching, Ceo and Founder of Coupay, Lucas McEntree stated, “India and the SEA region have always been part of Coupay’s business model. India was the next logical market for Coupay to enter because the growth and size is spectacular and we needed to be part of it. Our Co-founder Hemang Lashkary is a Gujarati native, and we have had staff in Rajkot for five months now. It was a simple decision to launch and we are very excited to offer Indian consumers the best possible deal, while getting paid to shop online by receiving cashback on every purchase.”
Coupay was initially launched during December 2013 in the US, and since then has manage to launch its service within Southeast As during the same year.
Coupay has gained over 1800+ memberships during the span of 72 hours, mostly from referrals. The India team makes up of 5 people based in Rajkot, and the number is expected to double during the coming next four to six months.
The business has manage to strategically create a partnership with Flipkart, ShopClues, Jabong, Fashion and You, Homeshop 18, Ebay and other Indian retailers to offer deals to the customer.
“We should have a few hundred retailers on site by the end of June. Products are being uploaded to Coupay on a daily basis; we expect to offer our customers over a million items on site by this month’s end,” said McEntee. Revenue generation from referring retailers’ sales is how Coupay is monetising the customers in India.
There are a variety of deals and coupon sites that are currently operational in India, those being Coupon Dunia, CupoNation, Couponzguru, Mydala, CouponDekho and so forth, that also offer deals and disocunts through coupons for online purchase.
Coupay is undertaking the digital medium for marketing currently.“We will start more offline advertising once our funding round is closed out. We are in discussions with tier 1 and 2 VCs and expect to close out the round shortly,” he announced.