Feeds

Catch of the Day on track for $AU250m

New group buying sites on way

Internet Security Threat Report 2014

Investors may be turning off the group buying craze in the US – courtesy of Groupon - but in Australia the verve for online discounts continues to ka-ching.

James Packer backed, CatchOfTheDay, the operator of Scoopon.com.au and online supermarket Groceryrun.com.au, has hit its fifth year of operation on track to deliver revenues for full year 2011/12 of $AU250 million.

The e-commerce group is still attracting new members, with approximately 4,000 customers signing up each day. Collectively the group has more than 1.5 million members, with an item being purchased every 3 seconds 24 hours a day, 7 days a week.

Founder Hezi Leibovich also debuted on the BRW young rich list this year in 22nd place with an overall valuation of $AU80 million of the companies he founded with brother Gabby in 2006.

In June, Packer and Tiger Global Management infused the company with an $AU80 million, prompting a group valuation of $AU200 million.

“Investments have been geared towards improving service delivery and ensuring we have in place the people, infrastructure and technology platform to support our next phase of growth,” said Leibovich

In September, the group launched groceryrun.com.au and in its first 5 weeks of operation, delivered average revenue around $AU1.5 million per week for, with an average 20,000 orders being placed per week.

Leibovich announced that it will be exploring new verticles including Brandstreet.com.au, which will offer branded fashion apparel and footwear. ®

Remote control for virtualized desktops

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Internet Security Threat Report 2014
An overview and analysis of the year in global threat activity: identify, analyze, and provide commentary on emerging trends in the dynamic threat landscape.