Taggle Internet Ventures Pvt. Ltd. today launched their much-awaited online Group Buying initiative, taggle.com. Taggle is a Bangalore based internet company that offers a variety of online deals, which give people an opportunity to make the good life better.
Taggle is leveraging the power of the internet to build a 'Group Buying' marketing platform that offers a win-win situation to both consumers and merchants. In other words, with Taggle, merchants pay for performance-based marketing and consumers receive attractively priced offers.
Taggle leverages the internet and more specifically, social and mobile networks, to create a community of shoppers who come together to give merchants volume business in return for bulk discount. This way, merchants are guaranteed a minimum number of customers who pay less as part of a mass-buying plan. Taggle partners with varied businesses ranging from wellness to beauty, travel, adventure sports, fast food, fine-dining and several others
For the merchants, 'Group Buying' creates a new marketing opportunity that is both measurable and cost-effective with the lowest customer acquisition cost. The idea is simple and cost effective-harnessing the power of collective buying to enable bulk discounts and offer great deals to customers. It not only provides a way for people to save money through the presented deals, but also helps them discover fun local activities they can enjoy at affordable prices.
For consumers it is an age old concept of ' bulk/ volume discount or institutional pricing' being offered to companies earlier and now applied to them when they buy as a group through Taggle.
taggle.com is the flagship product of Taggle Internet Ventures Pvt. Ltd. The company has been funded by Battery Ventures and Greylock Partners -- renowned blue chip venture investors who have invested in several leading internet ventures including Facebook, LinkedIn and Groupon, to name a few.
Commenting on its launch, John Kuruvilla, CEO and Founder of Taggle Internet Ventures Pvt. Ltd said, "We are delighted to present an experience where the Good Life in Bengaluru is about to get better. Our focus is to redefine and encourage online Group Buying in India. For the retailer its customer acquisition at the lowest cost and a tactical marketing channel that is performance based. The new website promises enhanced value by taking customers beyond the ordinary user experience into something exciting and revolutionary by leveraging the power of both the Internet and the mobile."
The business model has been conceptualised and the site www.taggle.com developed post a deep understanding of the consumer buying behaviour, the advantages and limitations of the Internet and mobile media as also an understanding of the issues and challenges faced by Retailers in today's competitive market space. From great deals in dining and wellness to the exciting offers in cinema tickets, holiday packages, salons and events, Taggle presents a platter of attractive products and services. Taggle currently offers its services in Bangalore and is looking at expanding its reach in all major cities in India.
Taggle has on board seasoned professionals who have worked with well known companies like Adobe, AirDeccan, AOL, Everest advertising, Genpact, J Walter Thompson, Leo Burnett, Mchek, Netscape,group The Oberoi , Oracle, Sodexo & Yahoo to name a few
The investors in Taggle are Battery Ventures and Greylock Partners.
Arvin Babu, -Partner, Greylock Partners who have invested in companies like Facebook and Linkedin, said, "India is definitely one of the world's fastest growing markets and we see great potential in the concept of Group Buying in India. The business proposition of Taggle is certainly promising and we are sure it will take the market by storm."
Ramneek Gupta- Partner, Battery Ventures who recently invested in the worlds largest group buying company – Groupon, commented, "We are very excited about the value proposition that Taggle represents for both the merchants and the consumers and are delighted to be able to collaborate with an extremely passionate team to bring the concept to fruition in India."
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