Magicpin forms strategic partnership with HT Media
Gurugram-based social rewards and savings platform Magicpin has formed a strategic partnership with HT Media, a leading media company in the country.
Under this partnership, HT Media will drive awareness of Magicpin’s offerings, which will also include various properties of the media house.
Magicpin co-founder & CEO Anshoo Sharma
On the partnership, Anshoo Sharma, Co-founder & CEO, Magicpin, said,
“Magicpin is bringing the local market to your phone. We drive growth for our retail partners and savings + discovery to our consumers. We have grown 2.5x in the last five months and expect this partnership to play a key role in making the brand ubiquitous. We look forward to leveraging HT Media’s content and marketing expertise in building robust and impactful brand awareness for Magicpin.”
Magicpin uses a social and gamified approach of using user-generated pictures and videos to help discover retailers and brands. Consumers earn reward points for shopping at partnered retail outlets and for buying specific brands. The points can be used to save at Magicpin’s 150K redemption partners across large and small retailers in food (including dining out and home delivery), grocery, pharmacy, fashion, beauty, ecommerce, D2C, travel categories.
Commenting on the partnership, Piyush Gupta, CEO, Strategic Investments, and Group CFO, HT Media, said, “We are excited to partner with Magicpin to transform the way Indians shop and save. Magicpin has brought a new dimension of convenience, value, and uniqueness to the way we do retail in India. We look forward to closely working with Magicpin to evangelize a new way of retail and shopping in India.”
Founded in 2015, Anshoo Sharma and Brij Bhushan, it has raised $14.9 million in funding from investors such as Lightspeed and WaterBridge.
According to the startup, shoppers on their platform bring a minimum saving of five percent on every transaction and can go up to 30-40 percent.