We earlier covered Taggle, one of the latest (and hopefully the last) entrant in group buying space in India.
Like we mentioned in our earlier review, Taggle’s core USP in the current state is the founding team [rich work experience in building consumer brands and the strong network] and we have learnt from multiple sources (including this) that Taggle has raised funds from Battery Ventures and Greylock Partners [in the range of $2-3mn 8.75mn$ (in tranches), as confirmed by Taggle team].
There are close to 10 group buying sites in India and while many of them have simply copied the Groupon model (even text/FAQs/buttons), the general lack of awareness of performance based advertising among the SMB crowd in India is not yet conducive to them.
Unless these sites have a great partnerships in place [which is where Taggle has an edge and so does a few other early movers], expect unrest in the coming days.
Recommended Analysis: Business Model of Group Buying sites in India
Update: Taggle has raised $8.75mn and it seems the bet is on the management team, as we pointed out earlier.