Pennyful Wins 2013 Red Herring Top 100 Companies Asia Award

BANGALORE, India - Sept. 11, 2013 - PRLog -- Pennyful.in (http://www.pennyful.in/), a leading innovator in online cash back shopping, today takes great pleasure to announce that it has been named as a Red Herring 2013 Asia Top 100 winner, an award that recognizes private innovative technology firms. Pennyful becomes the first and only Asian company from the coupons and online cash back shopping vertical to win this coveted award.

Pennyful was selected from hundreds of companies representing a range of technology sectors from the Asian region and the process of selection was based on a presentation on winning strategies held recently on September 3-5, 2013 at 2013 Red Herring Asia Forum in Hong Kong.

Commenting on this award occasion, Ravitej Yadalam, Pennyful’s CEO said, “We are excited to be named as a Red Herring Asia Top 100 company this year, among some of the most promising technology companies from our region.”

Red Herring’s Top 100 Asia list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, and eBay would change the way we live and work.

“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across Asia to the Top 100 Winners. We believe Pennyful embodies the vision, drive and innovation that define a successful entrepreneurial venture. Pennyful should be proud of its accomplishment, as the competition was the strongest it has ever been.”

Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their peers, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Asia.

Pennyful is a privately held company headquartered in Bangalore, India, with presence in North America.

About Pennyful.in

Pennyful.in (http://www.pennyful.in) is India's leading online cashback shopping and coupons site that has become a leading innovator in cashback shopping since its launch in 2010. Pennyful.in pays its customers to shop online.  Currently, we have tied up with 150+ partner sites (from Myntra.com to Snapdeal.com; Babyoye.com to Zovi.com) across India. The key differentiator at Pennyful.in is that we offer real money as cashback who do online shopping with any of our online partner sites and we also help online shoppers to discover amazing sales offers, deals, discount coupons, shopping discounts and products from their preferred online shopping sites.