Founded in 2013 by Ashok Reddy, GrabOn is an Indian coupon and discount shopping platform headquartered in Hyderabad. The company provides its users with the latest data on deals, discounts, offers and coupons on all manner of online purchases across a variety of platforms. They are also marking their presence in the e-Gift Card space, providing discounted gift cards from Amazon, Myntra, BookMyShow and other leading e-commerce platforms. The bootstrapped startup that started with 6 interns has grown into India’s leading discount platform, providing users with enticing offers for all manner of purchases.
GrabOn -About The Company
GrabOn provides users save money on online shopping across a variety of platforms and categories like Food, Travel, Entertainment, Fashion, and other goods. Their platform is tailor-made to offer users a seamless user-oriented interface, non-intrusive coupon searching and a tech stack backed by consumer insights and customer feedback, taking full advantage of all data available to them online. Their coupons and offers are constantly verified by in-house experts, and provide simple, secure solutions for users to save on their online purchases. They have also gone into strategic alliances and business relations with the multitude of platforms occupying the Indian e-commerce sector, establishing themselves as industry leaders. This allows them to provide its users with the best discounts, coupons, gift cards, offers and other means of a discount.
Market Scope And Business Model
As a B2C enterprise, GrabOn’s sector includes discount offers, deals, coupons, affiliate marketing and other cash saving methods for e-commerce. They target the Indian e-commerce space, a market capped at $40 Billion and growing 30% annually. The ongoing pandemic, increasing network penetration and better last-mile and supply chain management has boosted e-commerce, consequently attracting more customers into the sector.
Their business and revenue models are based on coupon redemption, gift card sales, brand marketing via their website and affiliate/performance marketing. The end-user sale generates revenue for the platform based on cost per sale, which incentivizes GrabOn to channel more users through their platform. They also work with major online brands like Amazon, Flipkart, Swiggy, Uber and others to provide customers with the best offers and discounts.
The firm had the option to accept VC funding in FY 2015-16, but they chose to bootstrap and face the odds. The fork in the road came 8 months into their operation when the company had to compete against the then industry leader with zero marketing budget. The biggest challenge for a bootstrapped company is turning a profit as quickly as possible to prevent selling to another company. Their seed round in November 2014 raised a total of $250,000 which the company used to grow and succeed. To this day, the company continues to rely on personal recommendations to gather new users, selling a good quality product to retain old users and attract new ones.
Today, GrabOn is the industry leader in its sector, boasting 25 million page views and 40 million subscribers in April 2020. They have been profitable for over 4 years and recorded $4.88 million in revenue at the end of 2019. GrabOn is estimated to have captured over 70% of the coupons industry in India. In the growing Indian e-commerce space, the company showcases the infinite potential and continues to save users money.