IndyaRocks Closing The Loop of Local-Social-Mobile With DealYantra. Groupon Now?

IndyaRocks, the Indian social networking site has launched a group buying site DealYantra. DealYantra brings you local deals from 6 cities viz. Bangalore, Delhi, Mumbai, Hyderabad, Pune and Chennai. The deals are from the usual categories such as food, lifestyle, clothing etc.
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Mobile Internet Trends for 2011–SoLoMo [Social, Local & Mobile]

4Cs of mobile marketing: currency (value), conversation, community and content [Mobile Insights]

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The interesting part about DealYantra is the fact that it is coming from a site that already has huge traffic. IndyaRocks claims to have 6.2million registered users and even if a small percentage of that is active, it is still enough to get the much needed initial push to DealYantra. Recently, Mouthshut launched DealFace, and the traffic for the latter is already on the rise. And hopefully this has come through minimal loss in ad inventory.

Now add the fact that Indyarocks’ founder recently announced the funding of Mojostreet, a location based game which we believe is going to be similar to Foursquare. So do we see an interesting loop closing here? Now if only they could revive the Indyarocks network and get the users to do more beyond sending free SMS and uploading videos for money.

Groupon recently announced Groupon Now, a location aware phone app for buying deals. If done right Mojostreet + DealYantra would be similar and even more engaging.

What do you think of this development. Can Indyarocks pull it off?

[Naman is a startup enthusiast and has worked with couple of Indian startups as Product Manager. He writes at The Inspire Blog]