 "Tiger Global-backed Zopper plans to raise up to $100 million in Series-B funding")
Zopper, which connects offline retailers to the online community and offers comparisons for products across categories, is set to tap the market within a quarter to raise up to $100 million.
Started in 2011 as a reviews platform reviews42.com, Zopper’s founders might dilute about 15-20 per cent equity to raise between $50-100 million over the next couple of quarters, Neeraj Jain, co-founder and chief executive officer (CEO), told Business Standard. “While our target is to raise $50-100 million, the final quantum will depend on many factors,” he added.
Zopper had raised $5 million from Tiger Global and Nirvana Ventures last June in the Series-A round. The founders received seed funding in October 2011 from Blume Ventures and Ventureast and the second round came from Nirvana Ventures and Blume Ventures in January 2013.
“We need the next round of funding to scale up nationwide. From just three metro cities, we want to spread to 20 cities by the end of this year. On the other hand, we need to expand categories. We’ll be in the market for the next round of funding in three to four months,” said Jain.
“We don't sell anything. We just help you find the best products at the best price available,” he added. Jain said Zopper had the largest catalogue of online and offline merchants, the most comprehensive merchant listings and the widest price discovery. After contacting an offline merchant, a customer could go to the store to see the product, he added.
As part of its expansion, Zopper also connects consumers to local retailers for delivery of purchased products within a few hours, unlike e-commerce companies that take a few days. “If you are looking for a birthday gift, your requirement is time-bound. Here, quick delivery is what matters,” said Jain.
“Zopper and The MobileStore will help shoppers get the best of online and offline shopping. Our three million customers will find the best prices for mobile phones in more than 90 cities and receive the product within four hours,” said Jain. Zopper competes with companies like FindYogi, MySmartPrice.com, PriceBaba, Buyit, PriceDekho, and Junglee.com, among others. Last year, price comparison site BearShop.in, which was launched in 2012, shut shop.
Started in 2011 as a reviews platform reviews42.com, Zopper’s founders might dilute about 15-20 per cent equity to raise between $50-100 million over the next couple of quarters, Neeraj Jain, co-founder and chief executive officer (CEO), told Business Standard. “While our target is to raise $50-100 million, the final quantum will depend on many factors,” he added.
Zopper had raised $5 million from Tiger Global and Nirvana Ventures last June in the Series-A round. The founders received seed funding in October 2011 from Blume Ventures and Ventureast and the second round came from Nirvana Ventures and Blume Ventures in January 2013.
“We need the next round of funding to scale up nationwide. From just three metro cities, we want to spread to 20 cities by the end of this year. On the other hand, we need to expand categories. We’ll be in the market for the next round of funding in three to four months,” said Jain.
“We don't sell anything. We just help you find the best products at the best price available,” he added. Jain said Zopper had the largest catalogue of online and offline merchants, the most comprehensive merchant listings and the widest price discovery. After contacting an offline merchant, a customer could go to the store to see the product, he added.
As part of its expansion, Zopper also connects consumers to local retailers for delivery of purchased products within a few hours, unlike e-commerce companies that take a few days. “If you are looking for a birthday gift, your requirement is time-bound. Here, quick delivery is what matters,” said Jain.
“Zopper and The MobileStore will help shoppers get the best of online and offline shopping. Our three million customers will find the best prices for mobile phones in more than 90 cities and receive the product within four hours,” said Jain. Zopper competes with companies like FindYogi, MySmartPrice.com, PriceBaba, Buyit, PriceDekho, and Junglee.com, among others. Last year, price comparison site BearShop.in, which was launched in 2012, shut shop.
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