Jasper Infotech the parent company of the discounts and deals site Snapdeal has made an announcement on looking to fund or acquire marketing firms to bolster their existing deals and discounts foray. For this very purpose they have set aside 2 million dollars in investment. Their fund is known as the ‘Jasper Marketing Innovation Fund’ and would look at investments and acquisitions in the range of $50k-250k.
The kind of firms they are looking for are those that address the direct marketing or the marketing services space though they feel that the challenge is in achieving scale given a highly fragmented retail market in India.
Jasper feels its current presence in 30 cities and five countries and relationships with more than 30,000 retailers across various sectors provides it the distribution reach that other smaller players may not have and would be looking for.
The first investment via this fund was the acquisition of the group buying site Grabbon.