Daily deals in the CEE/SEE region: KupiMe’s €3 million investmentBY Vukašin Stojkov ON June 7
KupiMe operates in Croatia (where it is based), Serbia, Bosnia, Slovenia and Hungary, with the investment coming from the US fund iEurope Capital which has offices in New York and Budapest which has thusly gained 51% of the company.
This is a substantial investment which leads to the conclusion that we can expect an exciting period on the daily deals market in this region.
We asked Stefan Pajković, a serial entrepreneur and investor with an interest in this market for a comment on this investment and the implications it brings.
This is another vote of confidence in Croatia’s home-grown Internet startups and further proof that a regional outlook is a must when building consumer internet businesses.
Kolektiva, currently the biggest player in the market, now has a well-funded rival to contend with, and given that both their exit strategies most likely hinge on delivering the Central/Eastern Europe market to Groupon or Livingsocial, we can expect further consolidation in the sector, and aggressive marketing campaigns to acquire new customers and merchants.
Congratulations to Vanja Sertic and the KupiMe teams. It’s great to see that the daily deal business model pioneered in Central Eastern Europe by Kolektiva continues to draw significant FDI into the region.
The daily deal business model has been a major source of direct job creation in CEE, and has been widely credited as having kick-started a wider e-commerce revolution in CEE.
This investment further confirms that daily deals and online vouchers are a profitable and growing trend in online advertising, which can yield powerful results for all parties in the equation.
The road ahead for us is to become the leading e-commerce Company in CEE and especially SEE, and to do so by leveraging data and technology to offer our growing list of 1.5 million subscribers unbeatable offers and products that are increasingly relevant to their lives.
For our merchant partners, it will mean more relevant and targeted campaigns via innovative new advertising products that drive pure ROI based marketing. To accomplish this, we are preparing to launch several new business models.Entrepreneurs looking to lead innovative new ventures can reach out to me directly: [email protected]
We failed in reaching KupiMe’s founder and include their comment in this post, hopefully this can be rectified in the future. Should you have a comment on the daily deals market in CEE/SEE feel free to share it with us in the comment section.