Nearbuy (earlier Groupon India) is a pan-India online marketplace platform (with Groupon as a minority stakeholder now) that allows customers to connect with local merchants and engage with each other across 33 cities in India. As a business, it allows customers to Discover, Buy and Save on these local merchants.
nearbuy operates in the $26Bn Services Retail market in India, comprising
Incorporated in May 2010 as Groupon India Private Limited, the company operated as a 100% subsidiary of Groupon Inc until August 2015, when it went through a management buyout and in the process changed its name to nearbuy, after successfully raising USD 20Mn (about INR100 crores) funding from Sequoia India, an arm of a Menlo Park, California-based venture capital firm, Sequoia Capital.
nearbuy has Ankur Warikoo as the Cofounder & CEO, alongwith 5 other founders.