Company:ShopBack
 | |
| Industry | E-Commerce, Online coupons |
|---|---|
| Founded | August 2014 |
| Founders | Henry Chan Joel Leong |
| Headquarters | Singapore |
| Services | Cashback |
| Website | https://www.shopback.com |
ShopBack is a Singaporean-headed e-commerce startup that utilises the cashback reward program.[1] It allows online shoppers to take a portion of their cash back when they buy products through the service. They also provide discount coupons and voucher codes for online shopping. It is currently affiliated with over 1,300 retailers from all over the world, including online retail giants Taobao, Zalora, Lazada, Uber, Grab, Shopee, Tokopedia, Blibli.com and eBay.
ShopBack had its working space at Blk71, under the tenure of NUS Enterprise. They are supported by NUS Enterprise in the form of infrastructure and resources under their incubation programme.[2]
History
ShopBack’s founding team was previously from Rocket Internet.[3]
Funding
For its first round of seed funding, ShopBack raised over USD $500,000.[4] The company has since experienced a fast growth[5] from its inception in August 2014, averaging 1,000 orders per hour across 6 markets, with an annualized sales figure of over US$300 million and 3.5 million users in 2017.[6] In March 2015, ShopBack received further investment funding of USD $600,000.[7]
In November 2017, ShopBack revealed it had raised USD $25 million, a round led by Japanese finance and credit card company Credit Saison, with participation from Blue Sky, AppWorks, Intouch Holdings, Aetius Capital, 33 Capital, SoftBank Ventures Korea, Singtel Innov8, Qualgro and East Ventures, bringing their total funding to USD $40 million.[8]
Partnerships and Collaborations
ShopBack has also collaborated and partnered with various international and regional organisations. The list includes OCBC Bank,[9] Starhub,[10] EZ-Link,[11] Singapore Committee for UN Women,[12] Institute of Singapore Chartered Accountants,[13] Bank of the Philippine Islands,[14] Globe Telecom,[15] AirAsia,[16] Maybank,[17] and Packet One Networks.[18]
Awards and accolades
ShopBack was awarded Vulcan Post’s ‘Most Promising Startup To Look Out For In 2015’ in the Reader’s Choice Awards poll in 2014.[19]
At the Singapore Infocomm Technology Federation's (SITF) Awards Ceremony held in October 2015, ShopBack was awarded twin accolades, bagging the silver award for the Best Innovative Infocomm Product (Consumer) and the gold award for the Best Innovative Start-up (Growth Stage).[20]
In 2016, ShopBack was the winner of the Emerging Enterprise Award at the sgsme.sg Emerging Enterprise Award 2016.[21]
At the Global Mobile Challenge held in Barcelona, Spain on 1 March 2017, ShopBack emerged as the first Southeast Asian start-up company to win the top prize.[22]
References
- ↑ "Singapore startup ShopBack pays you to shop online". http://www.asianentrepreneur.org/singapore-start-up-shopback-pays-you-to-shop-online/. Retrieved 27 March 2015.
- ↑ "Indian cashback sites, tighten your seatbelts! Here comes a Singapore startup.". https://www.techinasia.com/indian-cashback-sites-tighten-seatbelts-singapore-startup. Retrieved 15 November 2017.
- ↑ "Shopback gives you cashback for online shopping, and it just raised $600k from investors". https://www.techinasia.com/shopback-cashback-online-shopping-raised-600k-investors/. Retrieved 27 March 2015.
- ↑ "Steady, Silent, and Deadly: Inside Singapore's Hidden Gem Startup, ShopBack". https://vulcanpost.com/174511/steady-silent-and-deadly-inside-singapores-hidden-gem-startup-shopback/. Retrieved 27 March 2015.
- ↑ "ShopBack eyes S-E Asia's US$60b e-commerce market". http://www.businesstimes.com.sg/technology/shopback-eyes-s-e-asias-us60b-e-commerce-market. Retrieved 27 March 2015.
- ↑ "ShopBack bags $25m in latest funding round". https://www.techinasia.com/shopback-25m-funding/. Retrieved 15 November 2017.
- ↑ "Shopback secures $600k seed funding from East Ventures & Accel-X". http://www.dealstreetasia.com/stories/shopback-secures-us600k-seed-funding-3771/. Retrieved 27 March 2015.
- ↑ "ShopBack raises $25M for its cash back shopping service in Southeast Asia". https://techcrunch.com/2017/11/06/shopback-raises-25m/. Retrieved 15 November 2017.
- ↑ "Earn up to 20% cashback on your online shopping via ShopBack". https://www.ocbc.com/personal-banking/cards/card-promotions/online/. Retrieved 15 November 2017.
- ↑ "Starhub Exclusive Partners". http://www.starhub.com/personal/rewards/exclusive-partners.html. Retrieved 8 July 2015.
- ↑ "EZ-Link Rewards Scheme with Perx". http://ezlink.com.sg/perx. Retrieved 8 July 2015.
- ↑ "Singapore Committee for UN Women News". http://unwomen-nc.org.sg/news_details.acvx?id=809. Retrieved 22 April 2015.
- ↑ "ISCA Members’ Privileges". http://isca.org.sg/become-a-member/benefits-of-membership/members-privileges/. Retrieved 22 April 2015.
- ↑ "P200 sign up bonus at Shopback - BPI Cards". http://www.bpicards.com/Page/263. Retrieved 8 July 2015.
- ↑ "Get Rewards Points with ShopBack!". https://www.globe.com.ph/rewards/promos/shopback. Retrieved 20 August 2015.
- ↑ "Press Release: AirAsia BIG takes off with ShopBack as the first largest local partner on board". http://www.airasiabig.com/my/en/?page=news&id=57. Retrieved 20 August 2015.
- ↑ "Complimentary S$5 Sign-up Cashback Bonus with minimum S$50 spend at any participating ShopBack merchants". http://info.maybank2u.com.sg/personal/cards/treats/mbtreat-online.aspx. Retrieved 20 August 2015.
- ↑ "P1 Customer Loyalty Rewards". http://www.p1.com.my/rewards/. Retrieved 22 April 2015.
- ↑ "Here Are The Winners Of Vulcan Post’s Readers’ Choice Awards!". https://vulcanpost.com/117811/vulcan-post-readers-choice-awards/. Retrieved 27 March 2015.
- ↑ "SITF Awards". http://www.sitfawards.com/. Retrieved 13 October 2015.
- ↑ "Bringing sexy to cashback". http://www.sgsme.sg/awards/bringing-sexy-cashback. Retrieved 15 November 2017.
- ↑ "Shopback wins global award eight months after launch". http://www.newstream.asia/biz/startup/shopback-wins-global-award-eight-months-launch/. Retrieved 15 November 2017.
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