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Group-buying site Snapdeal takes on competition, with new funding
By siliconindia
Bangalore: Venture Capitalists are turning so predictable. Each deal site being the best bet in this huge e-commerce market, how can one ignore Snapdeal. The site has received a $12 million investments from Nexus Venture Partners and Indo-US Venture Partners.
Pay 
39 for a movie ticket worth 120 or pay just 125 for Salsa classes. These instant messages on the cell and mails is the main business for this Groupon competitor. The group buying site recently announced its feat of saving 5 crore via their discount coupons. The recent steps of Groupon in India with SoSasta acquisition has brought the firm on its toes and the recent deals have turn too attractive, must be the customer retention strategy.
Speaking about the funding, Suvir Sujan, Managing Director, Nexus Venture Partners, said, India is a country full of small and medium businesses offering consumer services and goods. Snapdeal is already emerging as the leading online couponing site in India for these local businesses in over 30 cities across India.
39 for a movie ticket worth 120 or pay just 125 for Salsa classes. These instant messages on the cell and mails is the main business for this Groupon competitor. The group buying site recently announced its feat of saving 5 crore via their discount coupons. The recent steps of Groupon in India with SoSasta acquisition has brought the firm on its toes and the recent deals have turn too attractive, must be the customer retention strategy.
Speaking about the funding, Suvir Sujan, Managing Director, Nexus Venture Partners, said, India is a country full of small and medium businesses offering consumer services and goods. Snapdeal is already emerging as the leading online couponing site in India for these local businesses in over 30 cities across India.
