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Hoorayy Technologies launches daily deal website LootMore.com

by Satrajit Sen

Hyderabad-based Hoorayy Technologies has launched LootMore.com, a daily deal website that procures products directly from manufacturers at wholesale prices and pass on the benefit to the customers by selling it at low prices with minimal margin, but in large volumes. LootMore claims to have sold over 1000 products in price range of Rs 149 to Rs 9,999 since its launch on May 3, 2010.

by Satrajit Sen

Hyderabad-based Hoorayy Technologies has launched LootMore.com, a daily deal website that procures products directly from manufacturers at wholesale prices and pass on the benefit to the customers by selling it at low prices with minimal margin, but in large volumes. LootMore claims to have sold over 1000 products in price range of Rs 149 to Rs 9,999 since its launch on May 3, 2010.

“It started with a passion of selling, supplying and distributing products in bulk to limited community of re-sellers who used to make money out of us and as usually kept low margins always. Later, we evolved it as a business model and launched it as LootMore,” Prashanth Gowriraju, CEO, Hoorayy Technologies, has told AlooTechie.

According to Prashanth Gowriraju, categories like gadgets, peripherals and computer accessories have so far been most popular on the site with orders coming in from the metro and Tier II cities in India. LootMore is aiming to be a $1-million company in the first year of its operations and plans to categorise its business into various subcategories such as apparels, kids, shoes and gadgets.

“Besides using Facebook and Twitter as effective media to reach customers, going forward we would also explore the possibilities of OOH (out-of-home) media activities and the print media where we could publish our product in a daily newspaper,” Prashanth Gowriraju has added.

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