ShopBack

ShopBack
Industry E-Commerce, Online coupons
Founded April 2014
Services Cashback
Website https://www.shopback.sg (Singapore), https://www.shopback.my (Malaysia), https://www.shopback.com (US)

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 300 merchants from all over the world, including online retail giants ZALORA and Groupon Singapore.

ShopBack currently has 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]

For its first round of seed funding, ShopBack raised over USD $500,000.[3] The company has since experienced a fast growth[4] from its inception in August 2014, averaging 10,000 orders in half a year.[5] In March 2015, ShopBack received further investment funding of USD $600,000,[6] bringing their total funding to USD $1.1 million.

History

ShopBack’s founding team was previously from Rocket Internet.[7] According to the ShopBack website, the service was founded on the basis of improving the consumer online shopping experience by helping online shoppers save as much as possible.[8]

Partnerships and Collaborations

ShopBack has also collaborated and partnered with various international and regional organisations. The list includes Citibank Singapore,[9] Singapore Committee for UN Women,[10] Institute of Singapore Chartered Accountants,[11] National Trade Union Congress (NTUC)'s Plus!,[12] and Packet One Networks.[13]

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.[14]

References

  1. ↑ "Singapore startup ShopBack pays you to shop online". Retrieved 27 March 2015.
  2. ↑ "NUS Enterprise: Incubation". Retrieved 27 March 2015.
  3. ↑ "Steady, Silent, and Deadly: Inside Singapore's Hidden Gem Startup, ShopBack". Retrieved 27 March 2015.
  4. ↑ "ShopBack eyes S-E Asia's US$60b e-commerce market". Retrieved 27 March 2015.
  5. ↑ "ShopBack nabs US$600,000 in funding led by East Ventures". Retrieved 27 March 2015.
  6. ↑ "Shopback secures $600k seed funding from East Ventures & Accel-X". Retrieved 27 March 2015.
  7. ↑ "Shopback gives you cashback for online shopping, and it just raised $600k from investors". Retrieved 27 March 2015.
  8. ↑ "About ShopBack". Retrieved 27 March 2015.
  9. ↑ "Earn up to 20% cashback on your online shopping via ShopBack.". Retrieved 22 April 2015.
  10. ↑ "Singapore Committee for UN Women News". Retrieved 22 April 2015.
  11. ↑ "ISCA Members’ Privileges". Retrieved 22 April 2015.
  12. ↑ "ShopBack LinkPoints Reward". Retrieved 22 April 2015.
  13. ↑ "P1 Customer Loyalty Rewards". Retrieved 22 April 2015.
  14. ↑ "Here Are The Winners Of Vulcan Post’s Readers’ Choice Awards!". Retrieved 27 March 2015.

External links