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Mydala to launch business in Mumbai, Bangalore; expects to break even by H1 2011

15-January-2010
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Mydala to launch business in Mumbai, Bangalore; expects to break even by H1 2011

Launched in November 2009 in Delhi, Mydala aims to break even by the first half 2011. This apart, the group-based social e-commerce buying service also aims to launch its business in Mumbai and Bangalore, and later further expand to Tier I and II cities. Mydala.com targets the urban audience in the 18-45 age group and aims to offer its users highly discounted deals up to 80 per cent off retail.

Sharing the growth targets for 2010 with exchange4media, Anisha Singh, Founder and CEO, Mydala.com, said, “Our business being a completely new business model in India, our primary challenge has been in educating customers on how easy it is to buy on Mydala and the flexibility they have in redeeming the voucher. Every deal they buy on Mydala is for an offline experience – whether it is eating out, getting a massage, or shopping at a time of their choosing. In 2010, we plan to be in all the remaining Tier I and Tier II cities in India. We expect to breakeven in first half 2011.”

In terms of promotional activities, their primary focus would be on viral word of mouth online/ mobile marketing campaign in order to target and engage the target users. “In 2010, we plan to be in all the remaining Tier I and Tier II cities in India,” she said.

Singh further explained, “Our customers get access to highly discounted quantity and time limited deals (24 hours only) up to 80 per cent off retail, which they can never get on their own. Local businesses get tremendous visibility, paid customer footfall, access to new customers and build their reach and loyalty. The daily deals also have a broad appeal. There’s something for everyone, whether you are shopping for yourself or as a gift. We've seen incredible enthusiasm among customers and merchants. Our growing fans are advocates of the site and continue to help us reach new heights. Also, we place a premium on customer service, from our help line to quick online/telephone response to customer issues.”

Mobile is an integral part of Mydala’s outreach strategy, wherein the user can opt in for the daily deal via SMS. “If he or she likes the deal, they can buy it and/or get a call back from customer service, who will reply to their questions and allow them to pay by IVR if they want to all from their mobile. There is no need for them to have an internet connection! We will be enabling mobile payment mechanisms in January 2010,” she concluded.

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