CashKaro.com becomes the 1st Cashback & Coupons site in India
New Delhi, India, May 26, 2015: CashKaro.com – India’s largest and fastest growing Cashback and Coupons site today announced crossing the RS 10 CRORE MARK IN CASHBACK PAYMENTS to its valued users. Within two years of inception, CashKaro.com has emerged as a market leader in the cashback & coupons space and has become the default site for Indian online shoppers to start their shopping journey.
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CashKaro.com works with 500+ e-commerce sites like Amazon.in, Paytm, Jabong, Snapdeal, Shopclues and charges a commission for every sale it drives to partner retailers. CashKaro shares this commission with its members as ‘Cashback’. This is REAL CASH which can be paid to users’ bank accounts. Given Cashback is paid on top of Coupons & best deals on the internet, it indeed enables maximum savings to shoppers.
Thus far CashKaro has driven over Rs 150 crores of sales to its partners and the business is growing at 30-40% per month. CashKaro has a savvy user community of over 1.5 million shoppers who earn Cashback every 15 seconds via CashKaro!
Globally, CASHBACK is a recognized, tried & tested model with Billion Dollar businesses in many countries. Ebates.com, largest US cashback site was recently acquired by Rakuten for $1 Billion. Fanli.com is the largest Chinese Cashback site with over 70 million members & in its recent funding round was valued at $1 Billion. Quidco.com, largest UK cashback site is rumoured to be worth over $500m and more. With a fast growing e-commerce market & love for savings, CashKaro is poised for similar growth in India.
On crossing the milestone Swati & Rohan Bhargava, Founders, CashKaro.com said, “We as a team are both thrilled and encouraged as we cross another milestone at CashKaro.com. Since our inception, our sole endeavour has been to provide the ever evolving Indian online shopper a fulfilling experience and assure them of best deals while giving them EXTRA CASHBACK on their purchases across e-retailers. We are elated to see the continuous growth on our platform, as today we are not only leading the cashback space in terms of scale but also in terms of qualitative consumer experiences. Having given six times the cashback over a period of 1 year is an exceptional feat and would like to thanks all those who have partnered with us and recognized the model.”
“The 10 crore landmark is a great testament to how people in India love savings – and how the Cashback business model is a great product/market fit for India. According to reports Indian ecommerce will be a $100 Billion market by 2020 and CashKaro will surely benefit from this growth.” They added.
CashKaro has fast become popular as the cheapest way to shop online as its members can get upto 60% Extra Cashback on their online shopping. CashKaro has also partnered with Alibaba which further strengthens the brand’s market leading position in India. Recently CashKaro.com also launched PRODUCT DISCOVERY and PRICE COMPARISON feature. This added feature has empowered users by making their journey simpler and quicker. They are now able to see what Cashback offers and Coupons are available at product level, thereby making an informed buying decision across sites. This has made CashKaro.com a one stop shopping destination for online shoppers offering the best value proposition –Compare, Shop and Earn.
