Coupons and deals company Couponhaat is an e-commerce enabler working on both B2C and B2B segments and helps online shoppers in discovering the best deals. In a chat with Karma Negi of The Red Mark, Vipin Kumar Yadav, Founder & CEO, Couponhaat.in, talks about his plans and what makes them different in the market.
It has been a year since your launch. So tell me how has been the journey till now?
We have performed well since we started our venture more than a year back in April. We have been able to cater to the growing demand for discounted coupons and deals among online buyers across India and are happy with the upsurge in our growth and traction. With our comprehensive list of offerings, people are getting a whole new experience of online coupons and deals.
Couponhaat.in has more than 300,000 coupons to redeem and 7,000 live coupons and deals. The site has nearly 500,000 monthly visits, and more than 400,000 newsletter subscribers.
What were the challenges you faced at the beginning and still continue to face now?
Like other entrepreneurs, I also faced lot of challenges in this journey. In any business, challenges are part and parcel of the journey. Irrespective of the size of the business, challenges can’t be ignored at any point in time. Initially, we faced challenges starting with building up our start-up team, and had to devote time and energy to select the team members and making them acquainted with our work culture.
I think once you build good team members, other big challenges are surmountable.
Other major challenge we are facing is capital. We investment in this venture came from our own pockets but to scale up we need capital. Hence, are looking to raise funds to make it to the next level and are in the process of raising funds and are open to talks with VCs and Angel Investors.
You recently announced about recording half a million monthly hits? How were you able to achieve this?
Couponhaat benefits its users by providing them irresistibly economical deals, coupons, freebies, giveaways and is always there to help its customers with anything related to coupons. I attribute this achievement to the hard work of the team and also to our valued customers.
How does this discounted deals, coupons, freebies, and giveaways work? How does the revenue model work for you?
Online coupons and discount companies are first-hand information source for online buyers about ongoing offers of discounts and coupons across different e-commerce sites. These days, e-commerce players are coming out with discounts and coupons almost every day. It is really impossible to visit each and every site by customers to look at those live discounts and offers.
We attract our huge customer base and get engaged with buyers, and they select the deal that suites them best and click on the “buy now” and then customer redeem their coupon of specific code and saves the money. Couponing websites essentially play a big role to develop a business in today’s aggressive markets.
As far revenue model is concerned, well, this is a very straight forward business. Once a customer clicks the available discount from our website, he/she is directed to the e-commerce website directly. Once the purchase is done by the customer, we get our commission from the e-commerce site.
How different is your model compared to others in the market?
Our website is very attractive and technically very strong. We are attracting huge traffic to our website on a daily basis, for which more and more e-commerce players are joining hands with us.
Our business model makes us different due to 100% accuracy in our services and quality that we promise on our website. Today, customers who are looking for discounts are increasing in numbers just because we are a reliable platform to avail online deals and coupons.
How big is your team?
We started our business with a team of four which has now expanded to more than 20.
Has the business reached a break even? If not, by when do you expect?
Yes, our business reached a break-even in the month of October, 2015.
Going forward, what are your plans?
Going forward, we are targeting to expand our reach to people who are not using deals and coupons websites. The market for coupons and deals in the country is all set to grow significantly over the next few years. We are making our technological capabilities superior and provide best solutions to our customers.