We earlier shared Taggle’s new avatar, i.e. transition from group buying to ecommerce store and sources tell us that Taggle CEO John Kuruvilla has resigned from the organization.
Taggle was launched in April 2010 and
raised $8.75 million from Battery Ventures and Greylock Partners. raised $1mn from Battery Ventures and Greylock Partners (the $8.75mn was a projected need, they received only $1mn).
Like we said, this is a fresh beginning for Taggle – and taking a horizontal ecommerce route puts them in direct competition with the likes of Flipkart, Homeshop18 etc.
The company spent a substantial amount of money in acquiring Facebook fans, especially before the launch and the marketing was done way before the product was matured enough to handle the eyeballs.
What’s your take on Taggle’s execution story?
QN: Is this the beginning of the end of group-buying frenzy? A harbinger of sorts?
Wait for few more months and you will see a blood bath in the ecommerce segment (time to revisit: Of Investors’ Seven Deadly Sins And “Crazy” Ecommerce Investments In India).