Times Internet Gains Majority Stake in CouponDunia.
Times Internet Ltd has recently acquired the majority stake on Mumbai-based CouponDunia Media Pvt Ltd, which runs an online coupon service CouponDunia.in, for a currently undisclosed amount and will be merging its currently existing deals site TimesDeal with CouponDunia.
CouponDunia will retain is distinct brand identity and shall continue to operate under its CEO Sameer Parwanit, who shall be working quite closely with Times Internet.
“This investment continues The Times Group’s strategy of strengthening its position in digital media. We are excited at the prospect of leveraging Times’ resources, including TimesDeal’s existing local deals presence, to build an even more compelling value proposition for consumers with CouponDunia,” Satyan Gajwani, CEO of Times Internet said.
“With their support, CouponDunia will be better placed to offer even greater value to the consumer,” Sameer Parwani, founder and CEO, CouponDunia India Private Limited added.
Founded during December 2010, CouponDunia has boasted that it now receives over 2 million visits a month, serves coupon from more than 1,500 online brands, and has over more than 1 million subscribers. It claims to driving Rs 500 crore worth of purchase and annually.
During the previous year CouponDunia has also expanded overseas with separate local language sites within Turkey, Poland, Brazil and Indonesia.
It’s own home base in India, it has to compete with the likes of Rocket Internet-backed CupoNation and Cashkaro among many other couponing sites.
Last year, Times Internet has manage to make over two acquisition, these included its most recent one, Dineout, six global partnerships, four minority investments and over 20 investments into startup through the accelerator TLabs.