background info

Thought it might help to have some background info for this recently listed company.

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iBuy Group Ltd is an Australian digital marketing company established to operate discount consumer good portals in Asia.

Unlike Australia’s ‘mature and small’ market for online shopping, South-East Asia is the world’s fastest growing e-commerce region, but still less than 2% of retail transactions are undertaken online.

Upon listing, it will operate Beecrazy.hk, Deal.com.sg, Mydeal.com.my, and Dealmates.com – covering Hong Kong, Singapore, and Malaysia.

These websites are similar to Scoopon, Catch of the Day, and Groupon in Australia, which offer discounted goods for short periods of time.

iBuy has apparently developed relationships with 7000 product suppliers to sell excess, remnant, obsolete or out-of-season stock through its new websites, which it will attempt to make a margin on-selling.


Back in oct 13 BRW interviewed iBuy Chairman Patrick Grove and reported;

"Grove intends to invest $US150 million on online businesses in the region covered by the Association of South-East Asian Nations (ASEAN) over the next five years.

25% of iBuy is owned by Catcha Group, the company that Grove co-founded with his friend and now business partner, Luke Elliott, which has a portfolio of online assets worth more than $US300 million, including ASEAN’s leading network of automotive portals, iCar Asia, and Asia’s No.?1 property classifieds website, iProperty Group"

http://www.brw.com.au/p/entrepreneurs/patrick_grove_plans_to_float_million_WBgFV3ABHrfHscqOEUJzZK




"Grove and Elliott have a good track record in Asia.
Their experience in the region is invaluable for iBuy and the share price should perform well as investors realise the importance of quality management in Asian-exposed companies. Their strategy of finding online businesses that work in the West and taking them to the East has worked incredibly well so far, and will only improve as internet penetration increases across the region."

http://www.fool.com.au/2013/12/23/should-you-buy-ibuy/

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this is for information purposes only and not intended as financial advice. DYOR&DD