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Times Internet acquires majority stake in Mumbai-based CouponDunia

Tags: times internet, incubator, startup, coupondunia, digital media, sameer parwani, satyan gajwani, funding, acquisition

May 29, 2014 | COMMENTS ( 0 )

Times Internet acquires majority stake in Mumbai-based CouponDunia

Times Internet, the digital product company of The Times of India Group, has acquired a majority shareholding in Mumbai-based CouponDunia Media, which owns and operates coupondunia.com, the digital coupon marketplace connecting consumers with retailers and brands.

 

The coupon codes provider also operates in four other countries besides India. CouponDunia will retain its brand identity and will continue to operate under the leadership of CEO Sameer Parwani, who will work closely with Times Internet and other Times of India Group companies, the company said in a statement. Times Internet's existing deals site timesdeal.com will merge with CouponDunia.

 

With this partnership, CouponDunia is poised to emerge as the leading destination for online and offline deals across India. The combined service’s websites, mobile applications, e-mail newsletters and alerts and social media presence will enable consumers to search for, discover, and source the best offers from leading retailers and brands.

 

Satyan Gajwani, CEO, Times Internet said, “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.”

 

Parwani, Founder and CEO, CouponDunia India said, “In a short span of under four years, CouponDunia has emerged as the leading Indian destination for digital coupons. We receive over 2 million visits a month and are driving Rs 500 crore purchases annually from over 1,500 online retailers and brands. With this partnership, CouponDunia will be better placed to offer even greater value to the consumer.”

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