Will reinforce online shopping with brick-and-mortar business model by opening exclusive consumer electronics stores

New Delhi, June 18, 2008 – CrazyPricing Online Services Pvt. Ltd., a Delhi based Information Technology and Consumer Electronics retail chain, has announced that it has made strategic investment to acquire majority stake in Cafegadgets.in, India’s leading online retailer of cutting edge gadgets and gizmos for an undisclosed amount. Cafegadgets has a registered user base of over 1,00,000 customers, a no mean feat for a company that has only recently completed its first year of successful operations.

Mr. Amit Sabharwall, COO, CrazyPricing Online Service Pvt. Ltd. said, “We are confident of our decision to invest in one of the leading Indian internet properties, CafeGadgets, specializing in the sales of IT products and electronic gadgets online. The synergy between the two companies will provide us with an extremely targeted existing customer base as CafeGadgets enjoys an excellent mindshare amongst our target audience across the country.”

CrazyPricing will also benefit from CafeGadgets’ close association with the vendors in the IT products and mobile phones categories as it has already been representing many of the major brands as their online distributors for quite some time now. The vast experience of the CafeGadgets’ team in merchandising and marketing online will also prove extremely helpful to CrazyPricing in making its presence felt and carving a niche for itself in the electronics retail segment in India.

Mr. Hitesh Dhingra, Business Head, CafeGadgets, said, “It is the most exciting development for us in recent times and we are confident that the association will augur well for both CrazyPricing and CafeGadgets. We will be able to strengthen our relationship not only with vendors but also our customers and they will benefit from the amazing deals on their favourite gadgets even if they shop at the CrazyPricing stores slated to come up in many cities across India.”

CrazyPricing plans to reinforce the reach of CafeGadgets’ online shopping platform and will exclusively retail a variety of gadgets and consumer electronics products at various locations across India with CrazyPricing owned stores, franchisee and shop-in-shop outlets. The company plans to expand its operations in Delhi/NCR and Northern India in the first phase followed by a pan India roll out. The first CrazyPricing store has already been launched in New Delhi opposite Sri Venkateswara college and has proven to be an instant hit with the students.

“We plan to leverage upon the vast reach of CafeGadgets and further reinforce it with exclusive retail outlets in various cities in India that will showcase hundreds of gadgets and electronics products. This will provide our customers to also touch and feel the product before making the decision to buy,” added Mr. Sabharwall.

CafeGadgets, one of India’s largest technology and digital lifestyle superstores on the internet, is a unique business-to-consumer (B2C) portal. It is a one stop destination to buy Mobiles, Digital Cameras, Laptops, Desktops, iPods, Pen Drives and a gamut of IT products. The fact that there are thousands of IT products, gadgets and gizmos available at CafeGadgets makes it the most exciting online shopping portal for those who like to keep pace with the rapid advancements in technology.

The various products on offer at the CrazyPricing stores will include bluetooth devices, computer peripherals, desktop PCs, digital cameras, external hard drives, electronics and gaming products, LCDs / plasma screens, mobile accessories, memory cards / USB drives, mobile handsets, MP3 and MP4 players, iPods, networking products, notebook accessories, notebooks / laptops, PC components, PDAs / smart phones, printers, projectors, scanners, speakers, storage media, telephones, UPS and IT consumables.

About CarzyPricing

Crazypricing.in is a Delhi based Information Technology and Consumer Electronics retail chain that plans to retail a variety of gadgets and consumer electronics products at various locations across India within CrazyPricing owned stores, franchisee and shop-in-shop outlets. Its product offerings include more than 7000 Digital and lifestyle products at competitive prices. Most of the brands are handpicked and it’s a one stop destination of 70 technology product brands. CrazyPricing is also e-distributor for major brands like Fuji films, Motorola, Samsung, Lenovo etc.

About CafeGadgets.in

CafeGadgets.in is a fastest growing IT and Consumer Electronics e-tailor in India that offers a comprehensive range of over 50 brands and 1400 technology and digital lifestyle products at heavily discounted prices. All of their products come with original manufacturer’s warranty. The online shopping portal offers massive discount in the prices as compared to the normal street price of the products as it has direct business tie-ups and arrangements with leading IT brands (manufacturers and vendors) and their tier-1 distributors. This helps the portal cut margins at various levels of distribution resulting into significant reductions.

Besides, the portal has a fully evolved logistic network spanning all market geographies in the country. Cafegadgets.in is the only portal of its kind to offer free doorstep delivery of products in shortest possible time without any charges whatsoever. As a result, the customer pays exactly what is listed on the portal rather than misleading and escalated costs including shipment charges—as is the case with most e-commerce ventures. Deliveries in metro cities are done within three days while those in other places take a maximum of seven days from payment realization. The site also presents extensive information on products available as well as reviews from users.

For further information, please contact:

Sundeep Mehta/ MuditJagati

Team Orange Public Relations

Mob: 9868779770/9891208370