Boston, MA 11/26/2013 (wallstreetpr) – In 2011, ecommerce company Groupon Inc (NASDAQ:GRPN) took over SoSasta.com and named it Crazeal. A year later the name was changed to Groupon India. The India division of this global deals website has been growing at a faster rate than what can be seen in the parent company. Groupon India is now present in 11 cities in the country and has announced expanding to Goa, which would exoand its presence to 12 cities in India.
So far, Groupon India is available in such major cities such as Mumbai, Delhi, Chennai, Pune, Ahmedabad, Chandigarh, Jaipur, Bangalore, Kolkata and Hyderabad. Operations of GRPN in India are spearheaded by CEO Ankur Warikoo. In the short span that the daily deals ecommerce platform has been in India, it has expanded its market share to control more than 56% of the India’s daily deals market.
Just like the parent company, Groupon Inc (NASDAQ:GRPN) India offers deals on spas, healthcare, saloons, restaurants and a host of local services. The platform also offer travel deals in the space. The company has been increasing its subscriber base exponentially since last year. Its merchant-base is also growing and has now hit 5,000. The company is looking forward to taking this number up by 1,500 by the end of this year which means that it expected to have 6,500 merchants going into 2014. GRPN India has Hilton, Oberio, Sony, Philips, Puma and Taj as some of its core merchants offer deals on the platform.
The Indian chapter of Groupon Inc (NASDAQ:GRPN) is also witnessing amazing deals processing improvement. It is now selling a deal every 26 seconds, up from every 33 seconds it had last year. This means that more customers are using the platform to obtain various discounts and deals in their purchases. Moreover, the platform is having a good number of repeat customers at about 48% every 30 days.
It is however important pointing out that while Groupon Inc (NASDAQ:GRPN) India is promising in terms of growth, its contribution to the parent company’s revenue is still small, but looking forward, it has the potential to do better and turn into one of the key markets for deals company.
