24th June 2014, SINGAPORE – iBuy Group, the parent company of DEAL.com.sg, has emerged as the number one e-commerce player in Southeast Asia, based on turnover, according to a ranking by Business Insider Singapore, the Singaporean edition of a leading business and technology news website.
iBuy Group, topped four other ecommerce sites to emerge as the winner in the ranking, with a turnover of S$153 million.
“Being the region’s favorite shopping site is indeed a significant achievement for us. We will continue to work hard to provide the most compelling online shopping offering to our customers in each of our six Asean markets,” said Patrick Linden, co-founder &CEO, iBuy Group.
iBuy Group specializes in flash sales as well as traditional e-commerce and is currently valued at S$164 million. The Group has operations throughout Southeast Asia as well as Hong Kong, through its eight digital properties: Beecrazy.hk, Deal.com.sg, Mydeal.com.my, Dealmates.com, LivingSocial.co.id, LivingSocial.com.my, Ensogo.com and Ensogo.com.ph.
This achievement comes closely on the back of Deal.com.sg’s move into the luxury goods space with the roll out of D’Luxe in Singapore, a dedicated platform that features mainly current season goods from premium luxury brands. Leveraging on its international sourcing network, D’Luxe, aims to deliver the widest variety of primarily current season goods from premium luxury brands at the best possible prices.
A new Redemption Centre is also slated to be opened in July and will be located at 2 Kallang Avenue, CT Hub, #03-01/02, Singapore S339407.
Founded four years ago, DEAL.com.sg has grown to become the largest flash sale platforms. In Singapore, DEAL.com.sg has consistently presented the largest collection of flash sale offers, as noted by independent market analysts. According to Alexa’s Traffic ranking, it is one of the top ten most visited Singapore-based sites, averaging over a million unique visitors every month.
Dealguru Holdings Pte Ltd, the operator of DEAL.com.sg, in December 2013 announced its merger with three other leading regional e-commerce players to form iBuy Group Limited. The company went on to raise AUD$37 million in an initial public offering on the Australian Securities Exchange (ASX:IBY) on 20 December 2013, making DEAL.com.sg one of the fastest companies to go from startup to IPO in just over three years.
About iBuy Group (www.ibuy-group.com)
Listed on the Australian Securities Exchange, iBuy Group Limited (ASX:IBY) owns and operates a network of leading e-commerce websites. Headquartered in Singapore, it has operations in Hong Kong, Singapore, Malaysia, Philippines, Thailand and Indonesia. iBuy Group sells discounted branded consumer products online through the websites Beecrazy.hk, Deal.com.sg, MyDeal.com.my, ensogo.com,ensogo.com.ph, livingsocial.co.id and Dealmates.com. It connects over 600 million consumers to retailers by providing ‘best price’ volume discounts on a wide variety of goods. iBuy Group’s vision is to create Asia’s leading e-commerce groups.