SPARK OF THE CORPORATE
CouponDunia Media non-public Ltd., launched coupondunia.in in 2010. It lists coupons and offers on its website for nearly 'all e-commerce websites' in Asian country which will be availed to save lots of on a sale. Coupondunia gets commission from the merchants for each purchase created. The start-up has been generating revenues since its launch. It’s a coupon web site. For just about each e-commerce store in Asian country, we have a tendency to list coupons and offers which will be availed to save lots of on a sale. These coupons and offers are all free. Everybody loves saving cash that the response we’ve received within the market has been wonderful. Sameer Parwani is that the founder and chief operating officer of CouponDunia, India's preferred coupon code website.
The early bird ...
Sameer has been prosperous in most his earlier ventures. As a 19-year-old finding out at Cornell University, Parwani noticed that the Indian diaspora were disconnected and launched RateDesi.com in 2003. It ran on the lines of the yank website Hot or Not wherever folks rated one another on varied parameters like attractiveness, etc. RateDesi.com presently became the bit purpose for NRIs and South Asian kids born within the West.
Graduating in engineering science from Cornell University, Parwani took up a company job. He recollects with abundant enthusiasm operating in a very 35-storey building as a 23-year-old in Manhattan. The location grew to be the world's largest social network for South Asian youths outside the landmass with over 350,000 registered users and a message board with over twelve million posts. The site's users primarily were from the USA, UK, and Canada.
Leaving a career that was blossoming wasn’t a tough call, says Parwani. Perhaps, that was because he excelled in whatever project he took up. “I have very high expectations from myself,” he says, revealing his mental make-up. “I am determined to succeed in anything that I want to do. Isn’t that how you aim for success, by believing in yourself and your dreams?” he remarks.
Parwani traversed the relevant pit stops in the e-commerce space launching a few sites before hitting it home with garamdeals that was later renamed as coupondunia.
From Boston, Parwani looked at the potential the site could leverage if it was launched for an Indian audience with a humongous population over 1 billion. Based in Boston, Parwani launched garamdeals in 2010. He found that people were curious enough to visit the site but would hesitate to join. Working at night and becoming nocturnal became a way of life for Parwani running a website for Indians. As the website grew, Parwani felt he had to be in India if the site had to realize its true potential. In August 2012, with a pregnant wife in tow, he moved to India. “My parents were upset as they were denied an opportunity to see their first grandchild,” he says.
About Coupon Dunia...
But despite these problems they did very well. On the folks front the corporate employed contractors within the Philippines to feature coupons. Sameer became just about nocturnal to possess the maximum amount time as doable to affect purchasers.
It then has to be compelled to some extent wherever it became clear that I required shifting to Asian country to permit CD to succeed in its full potential. So he finally moved to India in August 2012. From there they’ve grown even further. At that point we had 4-5 employees and now we have almost 40 and have expanded our operations into 4 new countries.
It’s a pretty straightforward business model. They send our users to our partner merchant sites where these users make purchases. For every purchase made by a customer sent by us, the merchant pays us commission. Electronics is definitely the most sought after category. Last December, our users bought about 2.5 crores worth of electronics from Flipkart alone. Fashion and travel are also very popular. Coupons that are applicable on all products or multiple categories do really well as the user have a huge range of options to choose from.
They have almost 10 lakh newsletter subscribers and over 1.7 million monthly visitors. The most active of these users are usually males between 25 and 31 years of age.
Finding the sweet spot...
The company soon grew to be the 'No 1 coupon website in India’. Electronics and mobile recharges are the most sought after coupons at the site. CouponDunia Media Private Ltd., operates Cupomworld in Brazil, couponDunya in Turkey, KodyBony in Poland and CouponDunia in Indonesia.
The company was acquired by Times Internet. It closed FY15 with over 20 crore revenues, says Parwani. Competition is rife in the sector with at least eight to nine sites chosen by consumers for its popularity and deals offered. However, competition is not a blip on Parwani’s mental radar. “We don’t look at competition,” says Parwani in a calm tone. “We are focused on giving increased value to the consumer. Over 80 percent of our work is built on trust. We give the best offers and have over seven million users on our site. The age group between 21-27 is the most active with three fourth of the males driving the traffic on the site.”
They are continuing our focus on mobile. There have been 2.5 millon downloads for our mobile app. Traffic continues to be strong through the app. We want to keep users engaged on the go. We are working on two new products: To significantly shift our business model and to have people come to us for transactions. We need to monetize our traffic ourselves,” Sameer he says, sharing his plans.
Life in India...
Parwani is kept very busy with his work cut out for him in India and across other geographies that he has no time to indulge in personal pursuits. But he says, “My wife and I love to travel. We try and make time for travel."
In India for four years now, Parwani has not yet been able to learn the Hindi language. “There are things to adapt in India. If you are busy with anything in your life, then most of the day is devoted to it. I have no complaints though. My office is five minutes from home. People have long commutes to make. We get a lot of help here in India. That has made us settle comfortably here. ”
• "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."
• "Very soon we will add retail stores, and are also going to offer offline discount coupons in the FMCG (fast moving consumer goods segment) next month,"
• "Adding cash back brings CouponDunia a step closer to making the platform the pre-shopping destination of choice. We hope our revamped offering will present our customers with a platform which will enable them to make smarter shopping decisions and save or earn a whole lot of money,"
• “I wanted to work in a well-known firm which I did with PricewaterhouseCoopers as an Information Security consultant. I worked with clients who were industry giants like as IBM, Citigroup and others. I enjoyed my work tremendously, but a year and a half later I left as I wanted to start-up.”
Hope readers caught up the spark...