|Description||CupomNow offers daily discount coupons|
|Angel, 7/11 ||$500k|
|Series A, 11/11 ||$1M|
CupomNow was born from some encounters between formers commercial directors of the groupbuying leader company in Brazil and Ipanema Ventures (a super angel company - money and hands on with the executives - formed by a joint of 4 former venture capitalists, founders of a public TMT venture capital in Brazil).
CupomNow offers daily discount coupons for products and services from local businesses throughout Brazil.
CupomNow’s model differs from traditional group buying’s by selling only the right to have the discount, not the whole offer.
By doing this it reduces substantially operational costs, increases the agility, makes possible more offers models and the instant redeem of the coupon.
The revenue is generated by selling the coupons, generally representing 10% of the deal’s savings. There is no financial transaction between the merchants and the company.
CupomNow’s model has been proving to be a great deal to the merchants, regardless the number of coupons sold.
The model assures that each coupon issued is, different from the traditional model, liability free.
There are 3 types of deals:
Daily deals, permanent deals and instant deals.
The development of these 3 types attracts a wider customer base than a regular group buying model.