Guest Post: Nomorerack Raises $40.000K In Series B Financing To Build Depth Among Its Largest Categories
Less than a year ago, after finishing a $12.000.000 Series A round, Nomorerack has managed to raise over $40.000.000 Series B financing led by HTV Industries along with Oak Investment Partners. Although the brand started as a flash sales website almost 4 years ago, Nomorerack has changed to an internet retailer which provides great discounts in a large selection of categories.
Most of the great deals include products such various categories like electronics, jewelry, lifestyle or apparel. Like CEO Deepak Agarwal once said, “With each day ending, when we promote our deals on various places like MSN, the larger our categories get, the more appealing our brands is.’
Three years ago, Nomorerack did $9.000.000 in revenue, $100.000.000 back in 2012 and very close to $300.000.000 last year in 2013. The company is very profitable, and most of the profit comes from repeat customers, around 70%. At the present time, the website sees close to 5.000.000 unique visitors each month.
The website began at first by featuring sets of 9 products which would stay available on the site for 1 single day before being discontinued. At the present time, there are over 3k deals live at any given moment, many of these items being available even for a few months. The period of time for which a given item will remain live on the website is generally determined by a specific algorithm which will take into consideration sales along with revenue volume.
“At first, it was designed as a daily deal website. Then, in time the site has evolved into a monthly deal site,” says Agarwal. “The website can provide various discounts to users by purchasing straight from the companies without needing to go through the normal retail pricing chain. Nomorerack does nothing else than to take the market share away from stores such as Walmart or Target. The chains of manufacturers for jewelry and apparel are particularly made for disruption. There`s a specifically high discrepancy when it comes to the retail price and manufacture price of both. It`s not really a coincidence that Amazon has designed a new Fashion category.”
Home, the largest category of the site, accounts for 30% of sales dollars at the present time, with electronics and fashion coming as the next categories.
“Appealing to users is the brand`s biggest expense by far,” says Agarwal. “Our team is mainly based on display promotion, with around 80% of promotion dollars being sent in that particular direction. What this means is promoting on large websites such an AOL, Google or Yahoo, but also running commercials on national TV.”
Richard Nelson is a good-deal-lover who finds that hunting for bargains online can be very helpful to his family budget. You can read more related info on his NomorerackYes blog.
Not many people really understand the world of coupons, how they came to be, how to access them and many more questions of the same. So to plug that gap in knowledge, here’s a little information for you.
The History of Coupons
- Coupons are an invaluable marketing device which was introduced in 1887.
- Businessman Asa Candler, co-owner of the Coca Cola company, created the first coupon by using paper tickets to market his new beverage.
- Candler wondered what to name the new marketing device and eventually turned to the French language calling it ‘couper’ which means to cut.
- In the early 90′s chain supermarkets turned to using coupons so as to attract consumers from the neighbourhood, this was as early as 1940.
- In 1957, the Nielsen Clearing House devoted itself to coupon redemption.
- By 1965 almost half of all households in the United States were using coupons.
- With the invention of internet in 1990, downloading coupons and online coupons took charge.
The Future of Couponing – Basics about Mobile Coupons
- 21% of mobile shoppers search for coupons once they get into a store and are impressed by what they are looking for.
- 50% of US mobile owners prefer SMS coupons rather than the traditional paper ones. This is because of the convenience.
- Only 4% of mobile users have received reminders about available mobile coupons but 44% are interested in the coupons so the outreach is minimal.
- 57% of consumers attest to that they are interested in receiving coupons on their phones.
- From all the mobile shoppers who get mobile coupons, 54% are getting them from a retailer`s website.
- An estimated 35 million people are using mobile coupons today.
- 67% of mobile users agree that location based coupons are very convenient.
A Few Things to Remember
- Coupon doubling – Many stores will double the amount if it is under 50 cents. But also have in mind that stores have different policies.
- Expiration dates – Coupons have their expiring dates from which they became invalid. Consumers should ensure they check out expiry dates to avoid inconvenience.
Where to Find Coupons
- Newspaper inserts – Inside most newspapers you will find that there are pages where they allocate coupons so all you need is to buy the paper and follow their instructions, most of them require you to cut it off and then use it in a store.
- Direct mailings – This happens through direct emails from the manufacturer. It can be through a promotional program or a special request by the consumer.
- In store dispensers – Just like any other dispensers some stores have coupons placed in dispensers inside the store but some are limited to how many you can pick, may be two or three.
Well, I was all set to write about some political shit that’s currently pissing me off because it’s destroying the America that I know and love – like the surge in illegal aliens getting drivers licenses so they can continue to lap up social programs that I get to pay for or Che Barack having an orgasm at the thought of a mosque at Ground Zero, when everyone knows that a mosque is a Muslim symbol of jihad victory, but then I got drunk, watched the 1946 French version of Beauty and the Beast and did the ugly cry.
And then I was going to answer more of your questions, but considering the mood I’m currently in (the drunk, ugly cry one) I think all my answers would be somewhere along the lines of, “Your mom asked that question last night, asshole” and you guys deserve better than that.
And then I was going to write about something cute my kids did, but I couldn’t come up with one damn thing because they achieved a level of asshole today I didn’t know was possible for ones so tiny. I don’t know what their major malfunction was, but it was all I could do to stop myself from tying them up and locking them in the garage until asshole went away and cute returned. Still waiting on cute to return, by the way. I swear to God, if I hear one more whine from one more child about one more thing that doesn’t make any damn sense, I am just going to snap.
Today Joshua threw himself on the floor like a maniac and flailed about because – get this – I didn’t go find him in the complete other wing of the house and let him know that he could, at his pleasure, mosey on into my master bathroom and turn off my hair dryer. Hey child! You’re three! Act like it!
Maybe he should stop acting like he’s three. Because I’m kind of done with three today.
Don’t even ask me about Ella’s level of asshole. I didn’t think we’d get to this extreme until high school at least, but she spent all day PISSED. OFF. about just being awake.
Newsflash, Infant, you don’t get to be pissed off about just being awake. Wait until you’re my age, your life revolves around cleaning before the maid comes and trying not to suffocate under the weight of your fucked up existence and THEN you can be pissed off about just being awake. Unless you have kids, and then you can’t. Or you have to be really good at pretending. Either way, don’t talk to me.
So, you know. That’s it. It’s just me, my wine, and my giant pink bunny now.
Beauty and the Beast is over. I think it’s time for An Affair to Remember. And more ugly cry. Pass the fuckin’ tissues.
Tomorrow will be better. Maybe I can wear white pants and get my period or go to the prom with my brother.
Because who doesn’t want me to write about these revealing prompts every Sunday, hmm? Just promise that you’ll still think I’m perfect even if my words indicate that may not be the case after all.
Day One: Something You Hate About Yourself
Well. I should probably just leave this one blank. What could I possibly hate about the shining light that is Gucci Mama? I am, according to one of my very favorite bloys, a legend, apparently and so by rights there shouldn’t be much room for improvement on this perfection.
If we look at it objectively, and I am nothing if not objective, there is little about my appearance to hate. Right? Seriously, this face is golden.
If I ever run for office, I’m sure my perfectly symmetrical face will be very pleasing to voters. Almost as pleasing as my brilliant political mind, unshakable integrity, and my Twelve Point Plan to Fix America. You know, for the children. I’m still working on my slogans and tag lines. I have awhile, but “for the children” always seems to be a winner.
So if we can rule out any physical anomalies that need fixing, we know that my intelligence is off the charts, and my wit and charm are legendary, what in the world could I possibly hate about myself?
I don’t know about hate – hate is a little bit strong – but there is something about myself I don’t like. I know all those things I mentioned are true. I know I’m beautiful, I know I’m brilliant, I know I’m funny, and I know I’m powerful. I know that if I just reached out and grabbed it, I could hold the world by the tail.
Oh my God, I sound like my mother. “Have the world by the tail”. Soon I’ll be using words like “caddywampus” and “boosh”. Shit.
Anyway. I know that while there are several things that are out of my control just now, there are also things that I can control. There are things I can use my beauty and intelligence and humor and power to accomplish and I haven’t, at least I haven’t yet, because if there is one thing I excel at beyond most things it’s self sabotage.
That? I don’t like much. I should probably work on that.
For more Thirty Days of Truth, visit Angel Believes.
Bitches, there is some nasty shit going down at the Shore House this week. First of all, that bitch The Blowout is flaunting her pasty ass in front of my Orange Jewce as if he’d EVER be interested in her. But you know, I’m getting a little tired of her itty bitty titties in his face, if you know what I mean. Have some self respect, girl, and get your own damn man.
Look at her and her evil bedroom eyes trying to steal my man. I’m just saying, this bitch wants to step outside? We will step the fuck outside. Okay? That’s all there is to it.
Anyway, Orange Jewce and I have our first date tonight. He’s off doing his GTL right now (if you’re not a juice head and you don’t know what GTL is, get a life. It’s Gym, Tan, Laundry.) and I’m getting ready.
I just got my nails done and a fresh tan sprayed on and now I’m perfecting my poof. Obviously I’m not going out in that nasty gray shirt. That’s my shirt before the shirt. Like I’d risk getting make up on my club clothes. Jesus.
The Jewce and I had a video confessional all ready for you to see, but the fucker got sloppy last night in the hot tub and dropped my damn camera right in the water. Look how drunk he was. Out of hand. I mean, seriously. I almost called off our date, but I can’t give The Blowout the satisfaction of taking him instead.
So, I’m looking pretty fuckin’ hot. The bitches in the club are jealous, totally hating on my awesome boobs and my sweet ass poofy hair. I’m dancing, having some cocktails, doing my thing, when I realize Where the fuck is Orange Jewce? Like, did he seriously ditch me in the club right now? I am so, so pissed. He’s gonna, like, creep on girls while I’m right here? After I spent all afternoon pissed off that he dropped my camera in the hot tub? I don’t THINK so.
WHO IS THIS BITCH? MY Jewce is creepin’ on her in the club RIGHT IN FRONT OF ME? Fuck that. Uh huh. This shit is not happening.
I’m going to call her The Instigator. She and Jewce have some goddamn explaining to do.
Coming up next week – The Saga between The Rack, Orange Jewce, and The Instigator continues. Plus, The Operation hooks up with The Sure Thing and Jewce Springsteen tries to get in the middle. You don’t want to miss it.