"Everyone talks about Tier II and below, at Mydala we are truly focusing on that. We have successfully created a network that covers 209 cities and it is not just that we are present there, we receive ample traffic from these cities," Mydala CEO and co-founder, Anisha Singh told PTI.
The six year old firm offers discounted deals across categories like health and fitness, restaurants, and travel among others.
"Gross service value, which is the retail value on the online and offline transactions, our current estimate that we are doing about Rs 3,200 crores annually as calculated today. We expect to grow that six times in the next three years that is by financial year 2018," Singh said.
Mydala co-founder and CFO Arjun Basu said that at present the company gets 60 per cent of traffic and about 45 per cent revenue from outside Tier I cities.