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Offline discovery and rewards platform MagicPin is eyeing an annual gross merchandise value (GMV) of nearly Rs 24,000 crore by the end of 2020, up from about Rs 3,000 crore at present.
Launched in 2015, MagicPin was valued at an enterprise value of $100 million last year when its parent Samast Technologies raised about $20 million from investors led by US-based fund house Lightspeed Venture Partners.
Currently, the startup is logging a GMV of nearly Rs 250 crore per month in offline sales and rewards points redeemed, company co-founder and CEO Anshoo Sharma told Business Standard on Thursday.
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