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MyDala Raises Rs 9 Crore From Info Edge

21 April, 2011

The New-Delhi based Kinobeo Software Pvt Ltd, which runs group buying site MyDala.com, has raised  Rs 9 crore from Info Edge India Ltd, which runs the recruitment portal Naukri.com.

The funds will be used to grow the base, as well as to increase the focus on customer service, said MyDala CEO and founder Anisha Singh, speaking to Techcircle.in. According to her, the repeat user ratio is currently at 30 per cent, up from 23 per cent in December.

Founded in September, 2009, MyDala.com raised Rs 1.1 crore funding from PE veterans Ajay Relan and Jayanta Basu, besides two unnamed US investors in 2010.

MyDala claims that it will be reaching a million users this month, with an unusually good season. So far, the company has notched up Rs 3.5 crore in savings for its users. “We want to give users values. That is our philosophy. MyDala users are active and they are high buyers. So merchants are happy with the return on investment,” she said.

Today, MyDala has over 3500 merchants and is adding 800 more per month. It caters to nine cities and is planning to expand to 36 more. The company is also offering pan-India deals.

It has recently invested in online marketing efforts through SEM and continues its viral marketing strategy. The company has hitch-backed on existing networks such as Burrp.com, FoodieBay, IndiaTimes and Brijj as part of its viral marketing.

In February, MyDala launched a travel deals section on its site and offered 350 deals so far. Currently, there are six travel offers available on the site and the company claims that the section is popular. Besides direct relations with hotel suppliers, it is now partnering with a leading travel website and is doing several deals with other OTAs, Singh said.

On how it will fare against travel deals site Vamoose.in, Singh said, “I think the entire group buying segment in India is still trying to figure out where the evolution is and we are carving out our own niches. Travel deals, in my opinion, are an early niche to be trying in the market.”

Recently, fashion flash sales site Exclusively.in also launched a travel deals section with discounted rates at select luxury hotels and resorts in India.


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MyDala Raises Rs 9 Crore From Info Edge

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