Company:Flubit
 Trademark logo | |
| Flubit.com | |
| Industry | E-commerce |
| Founded | 24 April 2011 |
| Founders |
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| Headquarters | Wapping, , |
| Website | flubit |
Flubit is currently the largest UK-owned marketplace for product availability. Hosting a catalogue of over 70 million products across categories including home, garden, toys, books and electronics, it positions as a direct competitor to Amazon.[1]
Flubit was founded in 2011 by current CEO Bertie Stephens and Co-founder Adel Louertatani. Initially proposing a group buying solution, users would generate a ‘demand’ for a product enabling Flubit to negotiate a better price for the product in bulk from one of their integrated merchants.[2]
As of April 2017, Flubit updated their business model to function as a more conventional marketplace with emphasis on their free product listing service and dynamically priced margins.
Sellers can integrate via the SKU Cloud e-commerce platform, a brand of Flubit Limited, allowing closely vetted UK merchants to list products on Flubit.com and partner sites for no fee. Unlike other traditional marketplaces, merchants are not charged a commission for sales. Instead, Flubit generates a small take-home margin whilst maintaining a competitive price.[3]
In November 2017, Flubit was ranked as the 10th most valuable VC-backed eCommerce company in Europe, and 2nd in the UK. The research was carried out by Pitchbook Data.[4]
On 11 July 2018 Yahoo Finance reported[5] that Flubit.com was acquired by the prominent blockchain technology group MonetaryUnit. The decision, at the time of the deal, would reportedly make Flubit.com the world’s largest shopping marketplace dedicated to the acceptance of cryptocurrencies.
History
As of May 2015, Flubit had a catalog with over 500 onboard merchants and over 20 million products.[6] By November 2016 the product catalogue had grown to 56 million products, from 1,500 merchants[7]
In 2014 Flubit secured a partnership with Barclaycard to launch a new service on their bespoke offers platform named beat my price.[8]
In April 2015 Flubit released its Gift Finder tool. The feature uses several simple metrics based on a short customer questionnaire to create relevant suggestions for gifts priced with a Flubit discount.
In January 2016 Bertie Stephens and Adel Louertatani were listed in Debrett's "Britain's 500 most influential" list.[9]
In September 2016 Flubit were awarded the Tech Track 100, listed in The Sunday Times[10]
Flubit.com was acquired by MonetaryUnit (MUE) on 11 July 2018 [5]
SKU Cloud
In November 2016 Flubit.com launched SKU Cloud. The new brand offers two solutions. The "sellers" programme, formally known as WeFlubit, lets retailers integrate a shopping feed exposing their products to over 10 million shoppers per day. For partners, SKU Cloud offers a white-label online shopping solution by providing a live feed of over 54 million products supplied directly from the sellers programme.[7]
References
- ↑ "Money Saving website Flubit.com unveils new site to rival Amazon, with investment topping $20m." (in en). https://www.newbusiness.co.uk/articles/entrepreneurs/money-saving-website-flubitcom-unveils-new-site-rival-amazon-with-investment-.
- ↑ "Flubit - About us". https://www.flubit.com/about. Retrieved 19 March 2015.
- ↑ "How to sell on the new Flubit marketplace - Tamebay" (in en-GB). https://tamebay.com/2017/04/how-to-sell-on-the-new-flubit-marketplace.html.
- ↑ "The 12 most valuable VC-backed ecommerce companies in Europe | PitchBook News". https://pitchbook.com/news/articles/the-11-most-valuable-vc-backed-ecommerce-companies-in-europe.
- ↑ 5.0 5.1 "Leading Blockchain Group to Acquire Flubit.com to Launch World’s Largest Cryptocurrency Integrated Shopping Marketplace" (in en-US). https://finance.yahoo.com/news/leading-blockchain-group-acquire-flubit-080500905.html.
- ↑ Edmund Ingham (19 Jan 2015). "How Do You Guarantee You Are Paying The Lowest Price For Goods Online? Try Flubit". Forbes. https://www.forbes.com/sites/edmundingham/2015/01/21/how-do-you-guarantee-you-are-paying-the-lowest-price-for-goods-online-try-flubit/. Retrieved 17 March 2015.
- ↑ 7.0 7.1 Dawson, Chris (1 Nov 2016). "Flubit unveils retail technology platform SKUcloud.co.uk". tamebay. http://tamebay.com/2016/11/flubit-unveils-retail-technology-platform-skucloud-co-uk.html. Retrieved 22 November 2016.
- ↑ PYMNTS (23 May 2014). "Barclaycard and Flubit's Digital Marketplace Team-Up". PYMNTS.com. http://www.pymnts.com/news/2014/barclaycard-and-flubits-digital-marketplace-team-up/#.VQgAwI6sWjI. Retrieved 17 March 2015.
- ↑ "Britain’s 500 most influential". The Sunday Times. 24 January 2016. http://www.thesundaytimes.co.uk/sto/newsreview/features/article1659295.ece?CMP=OTH-gnws-standard-2016_01_24. Retrieved 26 January 2016.
- ↑ "Flubit - Tech Track 100". The Sunday Times & Fast Track. 20 October 2016. http://www.fasttrack.co.uk/company_profile/flubit/. Retrieved 29 November 2016.
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