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benefitsPLUS invests in Koovs.com
By siliconindia
Bangalore: New Delhi-based benefitsPLUS, a closed-group e-commerce website, has entered the open space B2C by investing in Koovs.com, a daily deal-group buying site that has more than 400,000 registered users.
Founded in December 2009 by a team of IIT alumni, Mahesh Tewari, Rajesh Kamra and Amit Shukla, Koovs features deep discounted offers on the best stuff to do, enjoy, eat and buy in all the major cities in India. It brings aspirational products and services to its customers at very affordable price.
Rajesh Kamra, Co-Founder and Managing Director, Koovs.com, said, "Together benefitsPLUS and Koovs.com have built an excellent coalition which is expected to improve our market competitiveness in the fast growing online daily deal dome. It will enable us to accelerate our transformation by leveraging benefitsPLUS marketing/operational expertise. Our objective is to be a top three player in India and have offers and deals on a national basis."
benefitsPLUS is an ISO 9001-2008 certified company. Established in 2010, it has operations in Pan India through offices in Delhi, Bangalore and Mumbai. It employs over 100 people and aims to be one of the largest online e-commerce players by providing consumers with leading discount, offers or promotions from major retailers across the country. It manages on-line programs for some of the largest corporate, banking and mobile operators in India reaching over 20 million customers. It recently acquired snowball eRetail services.
Paul Shoker, Founder and CEO, benefitsPLUS, said, "After establishing ourselves as an exciting B2E player, venturing into B2C was a natural and obvious extension, giving us automotive leverage. We want to take the online shopping experience to the next level and will invest $3million on marketing, technology scaling and on new hires to strengthen our value proposition for consumers." benefitsPLUS feels that the acquisition will help them to broaden their reach in B2C space. The investment that they have outlined for Koovs.com will allow it to accelerate to the next level.
