The Bluebook is an online to offline marketing platform which has acquired a seed funding of $500,000 from India’s first and largest angel investor network called Indian Angel Network which consists of investors from all over the world. Few other investors who participated in this round included Lets Venture, a Singapore and US based angel investors and fund raising platform. In addition, the angel investor round was also led by Avinash Vashistha (IAN member, Founder), Tholons Capital, Rajiv Mehta (CEO, Arvind Lifestyle and IAN member) and Srinubabu Gedela (CEO, OMICS International).
The facts and figure show that the Indian food service and wellness market is worth $60 billion and is expanding at the rate of 7.7% from the year 2013. In this context, the aim of Bluebook is to cater a serviceable obtainable market of a whooping $300 Million.
The Bluebook was founded in the year 2013 in the form of a discount voucher book which later on went on transforming as a mobile app in the year 2015. The Bluebook is working in the field of dealing with offline deals and discount space. It assists its users in providing discounts from city’s famous outlets with the validity of a week. Also, it does not require a prior booking to avail the service at the selected outlet.
The Bluebook has been growing tremendously with an average of 40% per month. This startup paved new avenues of success by capturing market share with zero marketing expenditure. In addition, it was able to bring on board the top merchant of cities and get a competitive advantage over its competitors.
The recent investment acquired by the startup shall be used in consolidating the merchant and user base in Hyderabad, Bangalore and Gudgeon. A part of the investment will also be used in improving product and technology in order to offer in depth customer analytics, loyalty solution for merchants as well as unique payment solution.