“The Cashback and coupon industry in India is growing at a rapid pace” – By, Mr. Rajneesh Khattar and Mr. Vasu Dev, Co- Founders, PINKSTA
How was the company incepted? Details about the Co-Founders?
PINKSTA is co- founded by Rajneesh Khattar, a digital marketing expert with over 10 years of experience and Vasu Dev, having more than 7 years of experience in mobile technology and start-up technical consultations. As destiny would have it, both of them met at a seminar where they had been invited for discussions in their respective fields of expertise. Exchange of ideas over coffee, led to the realization of a common goal between the two and they started with discussions and meetings to explore the possibility of converting the idea into reality. After contemplating on a number of business ideas, they realized that the cashback industry is a viable option and the offline purchase segment has been untouched till now. Thus, came in the idea to incept PINKSTA.
Details about the Co- Founders
Rajneesh Khattar- is the Co- Founder & CEO at PINKSTA. He is a thorough expert is digital marketing and understand the nuances related to SEO. At PINKSTA, he is responsible for managing the app and business planning. His strong entrepreneurial skills are an asset for the company. Rajneesh bring in enriched experience as he has a history of working in the think tanks industry.
Vasu Dev- is the Co- Founder & CTO at PINKSTA. He is a qualified expert who possesses exceptional technological know – how. At PINKSTA, he looks after the technological aspects associated with app management like security, safety, innovation, etc. His in-depth knowledge of technology and the ability to manage several related issues simultaneously make him indispensible for the organization.
- Elaborate on the USP of your company?
The USP of PINKSTA is that it gives cashback on offline purchases. It provides the customers the best cashback offers from restaurants, eateries, bars, lounges, cafes, takeAways, spas, salons, beauty parlours and fashion stores. Currently operating in Delhi- NCR, customers can search for offers and discounts before making any purchase to get the best deals through this app.
The customers have to just upload the bill on the PINKSTA app to get the cashback. For example, if there is 30% cashback on eating out at a restaurant and a customers uploads a bill of Rs. 2000/-, cashback of Rs. 600/- is credited as cashback. This cashback can be used to pay for Mobile Bills, DTH & Data Card.
PINKSTA is trying to eliminate the restrictions and limitations that customers face in the online cashback industry like product specific, payment mode specific, time specific, bill amount specific, coupon code specific, customer type specific, etc.
- How has the product/service evolved and grown?
When we came up with the idea to start PINKSTA, the basic concept was to make it the best cashback app that provides irresistible offers to customers on offline shopping, a space that has not been ventured by other companies till now. Since then, our aim has been the same and the service has evolved to meet the changing needs of our customers.
- What are the challenges and opportunities in the market?
The Cashback and coupon industry in India is growing at a rapid pace. In the current scenario, it is an industry with lot of opportunities but at the same time with nail- biting competition which is a challenge in itself. However, cashbacks are here to stay. The primary reason for this is that offering discounts, rewards and increased cash back amounts are attracting more customers all the time. For maximum cash back, ease of use, incentives, number of stores in the program and fast access to funds, there are a number of companies in the market.
The growing number of customers that are accepting cashback as desirable option before shopping are on the rise and thus, companies venturing into the space are also increasing.
- Future plans of the company?
We, at PINKSTA endeavour to achieve the highest level of customer satisfaction and for this intend to make our service readily available and easy to use. For this, we want to tie-up with all the prominent names/brands associated with salons, beauty parlours, restaurants, eateries, bars, lounges, cafes, spas, and fashion stores. This will provide our customers ample options to choose from.
As a company, PINKSTA aims to expand its operations PAN India in the coming future and may also expand internationally.
