Jasper Infotech Pvt Ltd, owner of India’s leading group buying site, SnapDeal.com has acquired a leading group buying company in Bangalore- Grabbon. The financial details of the transaction are not known.
Post the deal, the Jasper-Grabbon combine would aim to expand to 15 cities in another two months, Kunal Bahl, CEO, Jasper Infotech, told VCCircle. Talking more on the investment rationale behind the deal, Bahl added, "We invested in Grabbon for two reasons - they have a great team and have a huge presence in Bangalore which complements our fast expansion plans."
Bahl added that both the properties will be positioned as having different value propositions- while one would be targetted at a premium segment, the other one would cater to a mass market.
“I'm confident that with this partnership, we'll have the flexibility and resources needed to pursue our goal of building the next-generation platform for the Group Buying space in India. Grabbon’s platform and team will be playing a key role in scaling out Jasper’s plans in the group buying space in India and neighbouring countries, from a technology, merchant development and marketing perspective,” said Bahl.
Jasper’s SnapDeal.com claims to have a presence in 8 top cities, 40,000+ strong member’s
community on Facebook and lakhs of users pan India.
“Our companies share similar values and together, we make natural partners. By joining forces with Jasper, we can benefit from its national reach and leadership position to offer a compelling group buying service to aspiring customers all over India,” said Tony Navin, Managing Partner, Grabbon.
Jasper deals in multi-channel direct marketing platforms in India with key industry leaders across consumer products; financial services; consumer durables; retail; technology and telecom industries. Its clientelle includes companies such as Microsoft, Capital One, Deloitte, Accenture, Future Group, Sodexho and Accor. Jasper is the owner of popular consumer marketing platforms, SnapDeal.com and MoneySaver.