Sarabjeet Anand, CEO, Promon-a start-up in local commerce, Sahil Baweja, Co – Founder, Now Capital and investor at Promon and Mandira Bedi, Actress and Fashion Designer announced the launch of the latest show on MTV “A DATE TO REMEMBER” in which the winner of the show will get a Honda Jazz car.
The gala launch was attended by Mr. Jatin Ahuja (M.D. of Big Boy Toyz), Mr. Jnaneswar Sen (Sr. V.P. – Marketing and Sales, Honda Cars India Ltd.), Amit Arya, Nikita Arya, Designer Rimple Narula, Designer Rosy Ahluwalia, Kanika Nanda, Cricketer Chetnya Nanda, Sunita Sharma, F Bar Owner Ajay Sharma and many more…
Promon aims to provide exclusive experience to its consumers by generating rich and curated content in the form of entertainment programs, music concerts and sports. Promon has opted a unique way of marketing the start-up and its sponsors and location partners by launching a series of shows on MTV. In December 2016 the start-up is launching “Date To Remember” their first show, which is strategized at promoting and educating people about the deals they can get in the city. The show revolves around the lives of real-life couples and puts them into series of tests to check their bonding, street smartness, humor and hunger for adventure. The winning couple will also get selected as Promon’s brand ambassador and will be used for their nationwide ad campaigns.
As per Mr. Sarabjeet Anand, Founder, Promon, “I am delighted to announce the launch of the show and thank the brands which are supporting us. We chose MTV as the channel partner for our upcoming shows as we envision reaching our target audience (youth) through this show. Mandira Bedi is a seasoned artist and her panache and wit will add zest to the show. Next year we will be launching our other shows, which will cater to Food, Fashion and Music and help us in providing unparalleled deal enjoyment experience to our customers. We have Honda Jazz as winner’s prize, which will also be used for the shooting. I believe Jazz car fits perfectly with youth as the target.”.
Sahil Baweja, Co-Founder, Now Capital said, “This is a great start to Promon’s roadmap of TV shows. We are confident of the content, format and entertainment value of ‘Date to Remember’ and believe this innovative strategy of content curation to showcase deals will define a great success story for Promon as well as all associated brands”.
As per Mandira Bedi, "I am delighted to be a part of Promon and their show Date To Remember. The show will be shot in Delhi and Chandigarh in November and the gumption which the youth of these cities possess will enable the show to reach the zenith. I feel we need more of such shows which will help in providing curated content for the audience".
Promon is in the business of local ecommerce, which does not charge its merchants voucher’s commissions but focuses on increasing the visibility and sales of the retailers through buyers’ social network. The beta site was launched on 30th Oct 2015 by raising USD 100K as seed fund from Jaarvis Accelerators. Within 4 months from their launch Promon had associated with 200+ F&B merchants showcasing 1000+ products. By June 2016 the start-up had distributed 10,000 vouchers and was clocking monthly GMV of INR 5 lacs. Promon will be launching the finished product line in the food, wellness and entertainment segment on . In the current financial year the start-up aims at touching 3.Cr.
Promon raised a bridge round with the media subsidiary of Now Capital Pvt Ltd, which will be used for further enhancing their content’s reach to their target audience and Merchants across Mumbai and Bangalore. Sahil Baweja and Ankit Gupta from Now Capital Pvt Ltd. have joined us as directors and helping us in forming corporate strategies. The company is raising 2 million USD with its current and new investors to launch itself in Chandigarh, Mumbai and Bangalore.
The start-up was incepted when Sarabjeet Singh, Founder, Promon was working with Groupon as a Sr. City Planner for the Travel vertical. He realized that the problem for a daily deal site is the intermittent period of deals by its merchants due to extreme discount offered by them with zero marketing. Sarabjeet approached this problem not from the sales side, but from the marketing and brand building side. Promon works on the content share concept, which provides two immediate benefits to subsidies over the discounts, zero cost referral sales and loyalty programs. The sellers club their product’s discount with ad-content that the consumer has to promote in his network to avail the discount; this leads to referral sales and product's branding for which the brand runs loyalty program for the consumers with them.
Their mode of revenue is through ad-subscriptions and PPV over the locked vouchers. Every voucher is locked with and which the viewer has to watch to unlock it. These ads are highly targeted as they based on users actions and buying patterns. Some of the brands which are associated with Promon are:-
- Food & Beverage: ITC, Social, Lord of the Drinks, Tamasha
- Retail: Big Boy Toyz, Honda Cars, Panasonic, Karbonn
- Entertainment: Ski India, MTV, World of Wonders
As per Sarabjeet Anand, CEO, Promon, “We are targeting a wider range of people from college students to Polo Game lovers as we have products to cater to every category. I believe heavy discounts will harm the merchants and further shorten their duration of promotion on the portal. Hence by creating a content driven network, our merchants stay with us and provide a steady steam of discounted products. We provide our merchant’s exclusive events that will help them boost their sales”.
Promon aims to provide exclusive experience to its consumers by generating rich and curated content in the form of entertainment programs, music concerts and sports. Promon has opted for a unique way of marketing the start-up and its sponsors and location partners by launching a series of shows on MTV. In December 2016 the start-up is launching “Date To Remember” their first show, which is strategized at promoting and educating people about the deals they can get in the city. The show revolves around the lives of real-life couples and puts them into series of tests to check their bonding, street smartness, humor and hunger for adventure. The winning couple will also get selected as Promon’s brand ambassador and will be used for their nationwide ad campaigns
Promon believes in running a business only if it makes profits, hence all their efforts are in devising strategies that help them enhance revenue and reduce costs. It will not only act as merchant and customer acquisition strategy but also increases revenue through sponsorships.
Promon’s vision is to become India’s first profit making deals business and they want to achieve it through exclusive products and contents for their target audience.
Sarabjeet Anand, CEO, Promon
Sarabjeet Anand completed his Masters from University of South Carolina, USA in 2009 and post his masters joined Groupon as Sr. City Planner for the travel vertical. Groupon (Crazeal as it was called then) was a vibrant startup and took Indian customers with a great surprise. In 2014 he realized that there were a lot of short comings in its model and merchants were not providing constant supply of deals hence he thought of launching Promon.
Sarabjeet was involved in conceptualizing the booking engine for the travel vertical of Groupon, which had enhanced the customer experience and resulted in up to 40% drop in refund rate. It was a huge success and formed the basis on which the current site is operating.
At Promon, Sarabjeet aims at working towards creating exclusive contents and shows for their users. In next five years he wants to offer luxury on discounts by becoming an online to offline deals discovery partner. Promon has five shows and two annual sporting events in pipeline. They will be using these to their strength to become India’s 2nd leading local commerce site.
|Jatin Ahuja MD BBT with Mandira Bedi|
|Designer Rimple Narula|
|Amit & Nikita Arya|
|Designer Rosy Ahluwalia & Sahil Baweja|
|Sahil Baweja, Co – Founder, Now Capital and investor at Promon, Actress and Fashion Designer Mandira Bedi, Ankit Gupta - Co – Founder, Now Capital , Sarabjeet Anand, CEO, Promon-a start-up in local commerce|
|Sunita Sharma & Ajay Sharma(Owners F Bar & Lounge)|