Flash seller hands out S$5m in rewards
The Singapore-based flash sales web site Deal.com.sg has announced that it is to give away up to S$5 million to its customers as a token of appreciation for their loyalty since the company's launch in May 2010.
From late March, every existing subscriber to the Deal.com.sg service is being given a S$5 discount code, and the discount is also being made available to all new subscribers until the site reaches its anticipated 1 million subscriber milestone, or until 30th April, whichever comes first.
The discount code can be used toward the purchase of any item on the site, irrespective of its purchase price until the end of April. According to Patrick Linden, CEO for the site's operator, iBuy Group, "We decided to give away $5 million to our customers as a token of appreciation for their loyalty and patronage over the past three and a half years: to everyone who made it all possible, a big 'thank you'."
In the almost four years since it was founded, the site has consistently offered a wide range of flash sale offers, often being mentioned by independent market analysts (for example, according to Alexa's Traffic ranking, the site is one of the top ten most visited sites nationwide, averaging more than 1 million unique visitors every month).
Dealguru Holdings, the original owner and operator of Deal.com.sg, earlier in 2014 announced a merger with three other regional e-commerce players to form iBuy Group. The company went on to raise some Aus$37 million in an initial public offering (IPO) on the Australian Securities Exchange in December 2013.
Headquartered in Singapore with operations in Malaysia and Hong Kong, iBuy Group sells discounted branded consumer products online through websites including Beecrazy.hk, Deal.com.sg, MyDeal.com.my and Dealmates.com, and connects some 138 million consumers with its retail partners through volume discounts on a variety of goods.