Jasper, company that owns Snapdeal, Moneysaver has launched $2mn marketing innovation fund aims at enabling companies and entrepreneurs in the marketing services and technologies sector in India to scale their products rapidly.
“We are looking for very sharp and committed entrepreneurs who are passionate about build great products to meet marketing needs of retail businesses,” says Bahl. The company would be looking at the following sectors: customer activation, loyalty, efficient brand promotions, social media, database marketing, mobile marketing, among others.
This is interesting as the entire group buying space is set for an overhaul (consolidation/new market expansion) once Groupon enters the Indian market (Groupon Hunting Deal(s) in India–Launch Imminent ) and the one that can survive will have to create means to expand inorganically.
To share some perspective, we receive a lot of emails from geeks on newer ways to crack the group buying market, though very few of them understand the nitty-gritty of retail market. Jasper’s fund can bridge the gap and help them expand their ecosystem/reach.
Aside, if you look at the traffic trend, Snapdeal surely emerges as the strongest of all – especially with companies’ focus on retail marketing (they launched Moneysaver 2 years back).
What’s your take on Jasper’s marketing innovation fund?
Recommended Read : Snapdeal Funding from NEA-IUV? Details
Analysis : What’s the deal with the Group Buying sites in India?
Series to watch out: Insights on ecommerce in India