The app provides discounts from popular outlets with validity throughout the week and does not require a prior booking to avail the service at the selected outlet
Other participants in this round include LetsVenture, an online fund raising platform, besides angel investors from Singapore and the US.
“The capital raised will be deployed in consolidating the merchant and user base in Hyderabad, Bangalore and Gurgaon, apart from investing on the product and technology to offer deep customer analytics, loyalty solution for merchants and unique payment solution. We aim to be present in all major metros in the next few quarters with our full stack solution,” said The BlueBook Co-founder and CEO Varun Kumar Akula.
Founded in the year 2013, The Bluebook provides discounts from city’s popular outlets with validity throughout the week and does not require a prior booking to avail the service at the selected outlet. Initially launched as a discount voucher book, the platform transitioned into a mobile app in November 2015, and claims to be growing about 40 per cent month-over-month.
The Bluebook works with brands such as Biereclub, Brewsky, Naturals, Bodycraft, O2 Spa and with a foothold in Hyderabad, Bangalore and Gurgaon. For consumers, The BlueBook operates a subscription model where users can pay a monthly fee of INR99 (under US$1.5) to avail all the discounts at the city’s popular restaurants, bars, cafes, spa, wellness and entertainment outlets. The redemption at the outlet happens with a 4-digit pin authentication.
Total food services and wellness market in India today stands at US$60 billion and has grown at 7.7 per cent since 2013. The share of organised market is currently 30 per cent and is expected to grow to 35 per cent by 2021. This translates to US$18 billion as of 2016 and is estimated to reach US$32 billion by 2021. Bluebook is addressing a serviceable obtainable market of US$300 million.
Image Credit: The BlueBook
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