IAN (India Angel Network) has invested in Groffr, group buying site for real estate.
Unlike other group buying sites that concentrate on low value impulsive purchase decisions like a eat out or spa session, Groffr has focussed on high value planned purchases like real estate, automobiles, LCDs etc and that’s where a lot of other group buying sites are now headed towards (i.e. products and less of services).
Earlier, Groffr acquired Mumbai based Mobstreet and given the high value real estate sector, Groffr has focused its business model around lead generation (and not creating trial usages).
Recommended Read: From Local Deals To Selling Products – Group Buying Pivoting Already?
Insights: Of Group Buying, Value Erosion, Prisoner’s Dilemma & Defections | Group(on) Value, Where Art Thou? Is Group Buying A Proven Model Yet?
