“Little”- the all new app only deal marketplace raises $50 million funding from Zovi founders
Zovi might be one of the most familiar online shopping sites for you. But have you heard about their new consumer lifestyle deals marketplace app, Little? Well, the founders of Zovi have announced that they have raised $50 million funding for their new ‘Little’ app. The app is already for download on android, iOS and windows phone.
Little is a hyper local that helps the users find the best deals on restaurants, hotels, saloons, movies, gyms, spas and much more around them. All you need to do is to find the best deal which you want, buy it through the app and then go to the merchant location to redeem it. The founders behind the app claims to have already enrolled over 5000 merchants in 11 cities across India till now, and their merchant base is increasing day by day.
Little wants to become the best discovery platform for its users, and also a significant sales channel for all its partner merchants. The app will provide you with hyper local deals for restaurants, hotels, movies, salons, gyms and many other services.
The app will help you find the best deals near you, and can even alert you whenever any great deal comes up in your neighborhood. Most of the deals in the app can be bought by paying through the app, giving you a cashless experience at the merchant while redeeming the deal. Redemption of the deal is also easy and can be done with a single tap, and you don’t need to carry printouts like other deal websites.
The app also claims that they provide the best deals and have proper filter mechanisms so that only the best merchants are allowed to come up with deals in the app. The app is designed in such a way that the merchants will be able to use it as a personalised sales platform which they can sue to gather information about customers in the vicinity, send them timely notifications, and offer their relevant deals with just few clicks.
The roughly Rs. 319 crore investment round was led by Paytm, SAIF partners, Tiger Global, and a large new undisclosed investor. The funding will be used to build new technology, hire senior talent and mainly to build the large merchant ecosystem. The app plans to host over 50000 live deals by March 2016. The company, which has around 400 employees now, also has got plans to increase its team strength to 1000 employees by March 2016.
The payment aspects of the app will be powered by Paytm. CEO and founder of Paytm, Mr. Vijay Shekar Sharma said “Little is one the key investments in that direction and will bring millions of hyper local deals to Paytm consumers right from their neighborhood”. Through little, the company aims to get hold of the broken deals space in India, by giving focus for personalisation, timeliness and ease of redemption.
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