Mumbai based YouTellMe Media Pvt Ltd, which owns and operates price comparison and product discovery portal YouTellMe.com, has acquired coupons and deals portal Priceburp.com. The financial details of the deal were not disclosed.
As part of the acquisition, the Priceburp team will join YouTellMe. Also, while Priceburp is currently operating as a separate entity, it will eventually merge with YouTellMe.
"There is a lot of synergy in the kind of work that YouTellMe and Priceburp does. YouTellMe enables users to find the right products, while Priceburp offers them exclusive deals on those products," said Shailendra Dave, co-founder and CEO, YouTellMe.
Founded in 2010, Mumbai-based Priceburp Media Pvt Ltd is an extensive listings site with over 5,000 coupons listed on it. In October 2014, the company had raised about $100,000 in funding from Dutch early-stage investment firm Bright Ventures.
Founded in 2014, YouTellMe helps users compare prices and discover products from more than 30 online stores in over 800 categories. The portal currently lists over 4 million products. The company plans to add product prices, coupons and deals from over 500 online stores in the country over the next six months.
According to the company, it is planning to raise $1-1.5 million (Rs 6-10 crore) in its Series A round of funding in a few months. The funds will be used for further development of the product offering, hiring talent, as well as for marketing.
In May last year, Times Internet had acquired a majority stake in the coupons service CouponDunia. Following the acquisition, it announced the merger of its deals site TimesDeal with CouponDunia, bringing the company's entire coupon business under the CouponDunia brand.
In India, it competes with the likes of Rocket Internet-backed CupoNation, Shop Pirate, CouponRaja, and Cashkaro among many other couponing sites.
(Edited by Joby Puthuparampil Johnson)