Mydala aims for 10 lakh merchants on its platform in next 3 years
Coupon and discount marketing platform mydala.com plans to get 10 lakh merchants on its platform in three years, a more than six-fold increase, a top company executive said.
"We have about 1.5 lakh merchants on board currently and we are targeting to reach 10 lakh merchants by 2018," said Anisha Singh, cofounder and CEO of mydala.com.
Ecommerce companies such as Flipkart, Snapdeal and Paytm have been wooing sellers to come on board as they try to chase ambitious growth targets and carve a bigger slice of the country's growing e-tailing market.
While Flipkart is looking to add 1 lakh sellers by year end, Snapdeal has said it wants to get to 10 lakh merchants in three years from 1.5 lakh sellers currently. Paytm expects to get close to 1 lakh sellers on its marketplace by the end of this year.
"We cater to our users literally on every product that they might need, whether it's online shopping, grocery shopping, utilities they want to save on," Singh said. "On the other hand, for the merchants, the idea is to market every local service provider who cannot market himself and is providing the utilities that the users need."
Mydala offer merchants an online presence through the website as well as data analytics and offline expertise on how to tailor services. Users pay merchants directly at the time of redeeming the offer.
"With deeper penetration and expansion of cities, we plan to achieve our target (of getting 10 lakh merchants on board)," Singh said. Singh said the company is looking to raise a fresh round of funds, without divulging details.
Currently, Mydala provides deals and offers in categories such as healthcare, beauty, restaurants, grocery, travel, entertainment and gyms.
The website enables transactions worth $450 million on an annualised basis for their merchants, Singh said, adding that this figure is expected to touch $3 billion by 2018.
Mydala has a presence in 209 cities. Every month, it sells about 6.6 million coupons and sees about 50 million unique visitors, said Singh. The company aims to reach 400 cities by 2018.
"Currently, we have 400-plus employees. We will double our workforce by the end of this year. By 2018, we estimate getting 4,000 people on board," Singh said.
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