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99lables.com raises $3.5 Million
By siliconindia
New Delhi: 99lables.com, an e-commerce private sales portal, succeeded in raising $3.5 million from Info Edge (India). Info Edge runs the recruitment site Naukri.com and other classifieds like matrimonial site Jeevansathi and real estate portal 99acres.com.
The fund will be utilized in increasing the number of international brands on the website as well as invest in ERP (enterprise resource planning) and CRM (customer relationship management) systems.
This is Info Edge's third investment so far this year in e-commerce portals, including an investment of 
10 crore in Etechaces Marketing and Consulting, which runs Policybazaar.com, a website for financial products comparison and 9 crore in New Delhi-based Kinobeo Software which runs group buying site mydala.com.
A members-only, flash sale site, 99lables.com, offers up to 90 percent discount on branded merchandise for luxury brands in fashion apparel, lifestyle products, accessories, footwear, watches, jewellery, fragrances and home decor. Ishita Swarup, CEO, 99lables.com says that they mission towards pioneering this online private sales concept in India and has always been to constantly innovate and make possible the most satisfying experience for both members and merchant partners.
10 crore in Etechaces Marketing and Consulting, which runs Policybazaar.com, a website for financial products comparison and 9 crore in New Delhi-based Kinobeo Software which runs group buying site mydala.com.
A members-only, flash sale site, 99lables.com, offers up to 90 percent discount on branded merchandise for luxury brands in fashion apparel, lifestyle products, accessories, footwear, watches, jewellery, fragrances and home decor. Ishita Swarup, CEO, 99lables.com says that they mission towards pioneering this online private sales concept in India and has always been to constantly innovate and make possible the most satisfying experience for both members and merchant partners.
