Feeds

Catch of the Day on track for $AU250m

New group buying sites on way

Security for virtualized datacentres

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. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.