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Mydeals247 – This Ecommerce Daily Dealer Expects 50% Revenues from Rural Markets

mydeals247Mydeals247 has expanded its operations to India. The Palo Alto, California based E-commerce site has added an office in Bengaluru Karnataka, India. At a time when some well known daily dealers ( are closing shop in India, Mydeals247, is expecting to receive 50 per cent of its revenue from used goods and farm transactions. The company sees a huge opportunity in India as people flip their electronics gadgets and buy newer products every year.

$2.5 billion market

The cell phone industry in India is huge. Venu G Somineni (Mydeals’ founder and CEO) speaking to the Financial Chronicle had this to say; “The cell phone market in India is between Rs 12,500 crore(about $2.4 billion) to Rs 14,000 crore(about $2.7 billion). Every year newer electronic gadgets come to market. While people are buying newer gadgets, they are piling up old gadgets. We expect about 50 per cent of our revenue to come from used product. Our new call centers are coming up in Bangalore and Chennai. We will hire about 70 to 75 people having multilingual skills”.

Mydeals247 is going after rural markets. Does that sound familiar? That was the basis for Wal-Mart’s success here in the United States. Somineni believes his company will be able to help rural residents to buy and sell farm products. This is how he explained the concept; “The agent will act on our behalf. The call centers will in turn provide the best deals available for sellers from rural areas for farm produce.” Somineni states that; “By the end of 2012, we hope to increase our subscribers’ number to about 10 million.”

Mydeals247 is also in hiring for other positions outside of India. My latest scan of their site showed 50 positions opened in the US, Canada, Australia, and Singapore. For those just wanting to test drive the daily deal waters, the company is open to offer internship programs for graduates and post-graduates at this time.

Congratulations MyDeals247 on the India launch. Stay with us at Daily Deal Media as we keep you up to date in the world of daily dealings. 

About Mydeals247: (patented solution) offers revolution technology in the e-commerce industry which identifies an individual’s preferences, interests, then delivers on-the-fly adjustments that make each customer feel the site was built just for him or her. It’s pretty much like having your own e-commerce or online store to fulfill your own needs on daily basis. MyDeals247 brings the lowest offers from the sellers based on buyer’s request in the local markets – all the bids from sellers happen real time and very much live. Also, provides the current need analytics (on daily basis) to the sellers in the local markets. is the world’s first personalized E-commerce platform.




Don Young

Don Young, Jr. is a beat writer for Daily Deal Media, the number one resource for the Daily Deal Industry. Don has spent over a decade as a stock broker / advisor focusing on fundamental and technical analysis. Prior to that he was the sole proprietor of The Tile Guy , based in Portland,Or. completing multitudes of both residential and commercial projects in the Pacific Northwest. Don enjoys researching new businesses , market forecasting, traveling, cooking, volleyball , golf and relaxing with family and friends.
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