Daily deal site SnapDeal.com has raised $40 million in series B funding from Bessemer Venture Partners, along with contributions from existing investors Nexus Venture Partners and IndoUS Venture Partners. According to Snapdeal founder and CEO Kunal Bahl, this is the largest single round of private investment in an internet company in India to date, reports Thetradeboss.
Cazbak.in is launched as an online shopping rewards platform for ecommerce industry in India. Cazbak is an online loyalty based website which redirects users to their intended retailer and in turn rewards them back with a certain amount of their spending as cash back. For this Cazbak has partnered 45 Indian ecommerce websites like Yatra, MakeMyTrip, Dr.Batra's, Indiatimes Shopping, Lemontree Hotels, Shoppers Stop, Travelocity, Disney, Times Jobs, Jet Airways, and Snapdeal.com. Cazbak has launched simultaneously in US and India.
If a user buys a watch worth Rs 1000 from a Cazbak partner store who is offering 5 per cent cash back, the user gets Rs 50 as cash back from the store. Almost all major merchants and online retailers offer similar cash back discounts ranging from 3 per cent to up to 20 per cent. Once having enough funds accumulated in the account, a user can request the payment via check or PayPal. Cazbak passes on around 75 per cent to 90 per cent of the affiliate commission they earn to the users. Once the user reaches a minimum limit of Rs.500, he can ask a payout through PayPal or cheque. See More
If a user buys a watch worth Rs 1000 from a Cazbak partner store who is offering 5 per cent cash back, the user gets Rs 50 as cash back from the store. Almost all major merchants and online retailers offer similar cash back discounts ranging from 3 per cent to up to 20 per cent. Once having enough funds accumulated in the account, a user can request the payment via check or PayPal. Cazbak passes on around 75 per cent to 90 per cent of the affiliate commission they earn to the users. Once the user reaches a minimum limit of Rs.500, he can ask a payout through PayPal or cheque. See More
