Press release from Business Wire India
Source: Dealite Services Pvt. Ltd
Monday, September 12, 2011 09:55 AM IST (04:25 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Business services, Electronic appliances & components, Household & personal care products & services, Information technology, Retailers; Technology
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New Online Auction Site – Dealite.in Brings Your Favorite Brands at 5% of MRP

Mumbai, Maharashtra, India, Monday, September 12, 2011 — (Business Wire India) — Dealite.in announced the launch of their disruptive auction site where buyers compete with limited bidders in quick-format auctions to win products at up to 5% of MRP. The founding team includes ex-eBay, ex-PayPal, IIM-A alumni and eCommerce industry veterans with a mission to break the price barrier for acquiring leading aspirational brands.

Unlike traditional penny auctions, Dealite differentiates by being exclusive to a limited number of bidders who buy a seat to participate in an auction. In return, Dealite offers them an equal amount of free bids which can be used in the auction. As the starting price is always zero and each bid increments by only Re. 1, auction participants can win premium products at 5% of MRP. Dealite provides all participants an option to ‘Buy it Now’, where the entire seat cost and bids are added to the final discount.

In India, according to sources at a leading payment gateway, there are over 130 deal sites as of August, 2011, that are competing for 100+ million internet users. Dealite’s founder, Vijayanand Shekokar claims, “Dealite is going to turn the conventional eCommerce model on its head, and create an exponentially ‘dealiteful’ experience for its users. We aim to make aspirational branded products available to all Indians at affordable prices.”

Head of Online Marketing, Sameer Khandelwal surmised, “Dealite is the missing link in the Indian eCommerce evolution that will enable consumers to experience a new freedom in shopping & gaming.” With delivery across India and alliances with leading payment gateway and logistics firms, Saurabh Vagal, Head of Operations suggests that India is ready for a new wave of innovative eCommerce businesses.

About Dealite.in:

Dealite is a disruptive Mumbai-based social commerce startup conceptualized by ex-eBay, ex-PayPal, IIM-A alumni. Dealite.in provides quick-format auctions that combine the thrills of online shopping with a fun experience. Buyers browse available auctions for the hottest gadgets, compete with limited bidders and win at up to 99% off, or ‘Buy it Now’ at a discount. Sellers can make money by setting up pre-set auctions and by leveraging their social networks.

For more information kindly click on the links below:

www.dealite.in

www.facebook.com/DealiteIndia

www.twitter.com/DealiteIndia

CONTACT DETAILS
Sameer Khandelwal(Head – Online Marketing), Dealite Services Pvt. Ltd, +91 (22) 3062 5350, sam@dealite.in

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BUSINESS SERVICES, ELECTRONICS, HOUSEHOLD, IT, RETAIL, TECHNOLOGY

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