Coupons, deals start-up GrabOn eyes Rs 1,200 crore GMV this year

GrabOn.in, an online coupons and deals start-up run by Hyderabad-based e-commerce products firm, Landmark IT Solutions, is looking at doing a gross merchandise value (GMV) of Rs 1,200 crore to its affiliate partners this calendar year, as against Rs 500 crore in 2015.

"The GMV is expected to be driven by customer acquisitions and the increasing number of unique visitors," Ashok Reddy, founder and chief executive officer of GrabOn, told mediapersons on Tuesday.

Founded in September 2013 and commercially launched in April 2014, GrabOn currently sees 5.5 million unique visitors per month, with 47% of them being returning users.

Stating that 85% of GrabOn's traffic was organic, Reddy said the company was targeting to have 12 million unique visitors per month on-board by the end of this calender and eventually touch 25 million in 2017.

The bootstrapped company is currently in active discussion with a couple of players to raise between $10 million and $12 million in a Series-A funding round to foray into the offline deals and coupons space — starting from the top 10 cities in the country to begin with.

"We should be closing both (fundraising and entering offline space) within the second quarter of the current calendar year," Reddy said, while indicating that the company was expected to offload 30% stake for the funds raised.