We are always on the look for exciting deals and discounts that can squeeze in our shopping traditions. One common trait that every Indian shares is spending the least amount of money to obtain the best possible result. According to an app-based survey conducted by Inshorts and Ipsos, 54% of Indian e-commerce customers wouldn’t shop online if, there were no discounts!
It was back in 2011 when Ravi Trivedi returned back to India from the United States. E-commerce was gradually gaining popularity back then. All these factors together made Ravi Trivedi realize the importance of coupons in future online shopping in India and he decided to come up with Couponrani.
In his words, “I found that online coupon sites were in its growing stage and had the possibility of becoming the main tier in few years. Also, there were not much couponing websites. I had been into marketing for quite a long time and always had the urge to become an entrepreneur. This ignited me to start CouponRani.”
Based in Bangalore, Couponrani as the name suggests provides coupons, offers and deals from leading online stores so that people save more while they shop online. Couponrani has exclusive offers from the e-commerce giants like Amazon, Flipkart, Jabong, Paytm. They help customers get quality products at cheaper prices. They also offer an API into their coupons for their Business Partners to display their coupons. India is a myriad of cultures and festivals. Festive season particularly attracts customers. Couponrani team ensures that they get the best offers and deals for their customers during special occasions and festivals.
The Couponrani team comprises of 17 hardworking people with a few extra who are working remotely. Sai Kumar Sarkar is the general manager of CouponRani who leads the team to work efficiently. They also have product and technical people on board who strive hard to make their company grow in every measure.
Couponrani is currently bootstrapped. Ravi initially invested in the business. Interestingly, the startup reached break-even within 15 months and post that they are running at bootstrapped mode without any external investment. CouponRani was funded by Srijan Capital at the initial stage but now their e-commerce partners pay commissions for successful sales. They also get revenue from advertising on their website.
Coupon industry is quite competitive. How does the startup cope with competitors?
“We do not focus on specific competitors and believe that all are equally competent. Initially there were only a few players but now things have changed tremendously with time and more players are in the race”, says Ravi.
The Couponrani team believes that instead of worrying about competition they should focus on customer satisfaction. They believe that any venture can survive if and only if their customers are content and happy.
In terms of coverage, Couponrani stands out among its competitors. It currently has 3623 stores and the numbers are increasing rapidly. They strictly keep only active coupons on their website and also do regular testing of all the coupons to ensure that their customers only get coupons which are working. They offer a Coupon API for partners, and have an Android App and Chrome extension for consumers. Furthermore, Couponrani is the only website that offers coupons in Hindi at hindi.couponrani.com.
Challenges faced while starting up
Ravi says, “As an entrepreneur, you are bound to take too many risks. Some will work for you and some may not. For me, CouponRani started off with just two people on board and that too from scratch. So, risk factors were more in every perspective and even in incorporating new ideas. For me, hiring new talents at an initial stage was a challenge, but I decided on taking some risks in hiring, and luckily it paid off.”
Future plans for Couponrani
“The e-commerce industry is not seeing a drastic growth in India right now, and so the short term would be little painful for all the players. But, I think we will see a strong industry growth in next 5 to 10 years. And for me, CouponRani will be a relevant and key player in the industry”, says Ravi. Couponrani has ventured into Malaysia, and they hope to grow in other geographies too!
The next time you need a great deal, you know you will surely get something valuable here.
Ekta Bihani
