Backed by an investment of over US$11 million ($R23 million) from Rocket Internet, CupoNation is off and running in Brazil, setting its sights on becoming the country’s biggest online platform for discount coupons.
On the CupoNation platform, a user clicks on a desired coupon, receives a discount code, and is redirected to the related retailer’s website. There, he or she enters the promotional code upon purchase, and the transaction is complete.
Consumers can receive discounts of up to 80% through CupoNation on purchases from one of the company’s over 300 partners – a list that includes Dafiti, Mobly and Walmart. Offers are available on a wide range of products and services, such as electronics, clothing, cosmetics, travel and more.
Moving forward, CupoNation Founder and CEO Maria Fernanda de Azevedo Antunes Diniz Junqueira has high hopes for the company. She elaborated, “Our expectation is to surpass the mark of 1,000 partners in the next six months. We want to redeem the original voucher code concept, originated in the United States, through which brands offer discounts to improve customer loyalty and increase sales. Consumers also benefit from this in being able to find discounts from their favorite brands on the site.”
As daily deal sites continue to fumble, even in Latin American markets where they’ve had more luck, may this model be the remedy for keeping online couponing alive? The people at CupoNation, which already boasts a presence in Europe and Asia, certainly believe so.