Taggle has shut shop and more could (will) follow as most of the players operating in this space provide same stuff with minimum differentiation.
Most of these companies where spurred by Groupon's success in it's first three years of operations. Earlier in November, GroupOn priced its IPO at $20 a share valuing the company close to $13Bn. However late last month, the company's share tumbled to less than it's offering price. It is currently trading at $21.
We have been skeptical about these internet ventures for more than a year now.
Read here:
10 Indian Group Buying Sites As Groupon Sinks Below Issue
Silicon Valley Vs eCommerce Valley; Waiting For The Garage Sale
Group Buying Portals - Can Somebody Please Invest In A Group?
Taggle founded by John Kuruvilla (who was earlier with Air Deccan) was one of the earlier entrant in this space. In June 2010, Battery Ventures and Greylock Partners committed $8.75Mn investment in Taggle, however according to Pluggdin, Taggle received only $1Mn. Recently, after the CEO exited, Taggle shut down it's local deals business and converted into a product ecommerce company.
Some group buying sites in India.
| Portals | Launched |
| Snapdeal.com | Feb'10 |
| Mydala.com | Nov'09 |
| Taggle.com | May-Jun'10 |
| Sosasta.com | Oct'10 |
| Koovs.com | - |
| DealsAndYou.com | Jun'10 |
| MasthiDeals.com | May'10 |
| Coupon2buy.com | - |
| Scoopstr.com | - |
| Mastsale.com | - |
Will we see similar trend in E-commerce portals focused on selling baby care products to Indian mothers? There are more than 5 such portals operating and most of them have raised VC funding. Will be back with more on this.
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