Crazeal, the India unit of Nasdaq-listed US daily deal site Groupon, is like the last man standing in the online format its parent popularised in the US, its CEO Ankur Warikoo told Business Standard. He was referring to the industry leader in daily deals, Snapdeal, changing its business model recently to turn itself into an e-commerce company, allowing Crazeal to occupy the top slot. Crazeal (for crazy deals) cannot use the Groupon name in India due to domain name litigation, but is hopeful of doing so sometime in the future.
Snapdeal CEO Kunal Bahl had recently told this newspaper Snapdeal was an e-commerce company, not a deal site. The company made the transition a few months earlier to expand its horizon and focus on a range of products and categories.
Without naming the competition, Warikoo said three deal sites had gone under in the past three months. According to industry information, Taggle.com, Dealivore and Vamoose are among Indian deal sites that decided to wind up businesses in their current avatars. However, a few pure deal sites are still going strong in the Indian market, Deals & You and Mydala being the notable ones.
(Source: Business Standard)