BANGALORE, INDIA: Taggle Internet Ventures Pvt. Ltd. today announced that they have launched their online Group Buying initiative, taggle.com.
Taggle is a Bangalore based Internet company that offers online deals.
The company would 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. It 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, said a press release.
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, “ 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 conceptualized and the site www.taggle.com developed post a deep understanding of the consumer buying behavior, 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.