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dealsandyou.com raises $17 million fresh funding

The daily deals site from the Smile group plans to expand its product, retail and travel local deals to more cities

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dealsandyou.com raises $17 million fresh funding

dealsandyou.com raises $17 million fresh funding

The daily deals site from the Smile group plans to expand its product, retail and travel local deals to more cities

BestMediaInfo Bureau | Delhi | November 10, 2011

publive-imagedealsandyou.com, the daily deals site from the Smile group, has closed a $17 million round of funding, led by Mayfield Fund and Norwest Venture Partners (NVP). Nokia Growth Partners and Intel Capital also participated in this round.

dealsandyou.com was launched in August 2010 and in just over a year, has expanded to serve local deals in 12 cities and national deals (product, travel, retail) to more than 250 cities. The company had raised $1.5 million in its first round of funding from Group Buying Global AG, which has launched similar business models across four continents.

Gaurav Kachru, CEO, dealsandyou.com, said, “The raised capital will help us continue to build a strong customer focused business with greater investments in technology and infrastructure, which will help better serve our customers.”

Navin Chaddha, Managing Director, Mayfield Fund, said, “The upwardly mobile Indian consumer has embraced the Internet, and dealsandyou.com has the team, the scalable product and momentum with over 3 million members to dominate both the local and national daily deals space. dealsandyou.com has continuously led innovation in the daily deals market and is India's fastest growing business in this segment.”

Launched in August 2010, dealsandyou.com has emerged as India's fastest growing daily deals business. It was the first to introduce deals in travel and products, new payment methods like cash on delivery, EMI for products and holidays and product innovations like the integrated shop on Facebook in the daily deals universe.

Info@BestMediaInfo.com

Info@BestMediaInfo.com

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