ShopBack
{{short description|Online affiliate company based in Singapore}}
{{Infobox company
| name = ShopBack
| logo = File:BLK-COLOUR-LONG.png
| industry = E-Commerce, Online coupons
| founded = August 2014
| founders = Henry Chan
Joel Leong
| hq_location = Singapore
| area_served = {{collapsible list
|Australia
|Indonesia
|Malaysia
|Philippines
|Singapore
|South Korea
|Taiwan
|Thailand
|Vietnam}}
| services = Cashback
| website =
}}
ShopBack is a cashback reward program{{Cite web|url=http://www.asianentrepreneur.org/singapore-start-up-shopback-pays-you-to-shop-online/ |title=Singapore startup ShopBack pays you to shop online |accessdate=27 March 2015}} available across the Asia-Pacific (APAC). It allows online shoppers to receive a small percentage of their purchases on the platform, paid for through affiliate programs by the merchant. The platform also provides coupons, voucher codes, product comparison, QR code payment,{{Cite web |title=Tech in Asia - ShopBack rolls out new payment feature |url=https://www.techinasia.com/sg-shopping-app-rolls-payment-feature |access-date=2022-08-03 |website=www.techinasia.com |language=en-US}} and most recently, buy-now-pay-later.{{Cite web |title=Tech in Asia - ShopBack rolls out BNPL service in SG, Malaysia amid global refresh |url=https://www.techinasia.com/shopback-rolls-bnpl-service-sg-malaysia-global-refresh |access-date=2022-08-03 |website=www.techinasia.com |language=en-US}} It has 30 million users.
It is partnered with firms such as Amazon, Booking.com, eBay, ASOS, Zalora, Woolworths Online, Lazada, Uber, Grab, Shopee, Tokopedia, GoWabi, Blibli, Alibaba, and eBay.
ShopBack is currently available in 13 countries including the United States, Australia,{{Cite web|title=Cashback Launch as Featured in the Australian Financial Review 2018|date=30 April 2018 |url=https://www.afr.com/technology/web/ecommerce/australian-battle-for-online-cashback-deals-begins-as-shopback-launches-20180426-h0zb60}} Indonesia, Germany, Malaysia, Philippines, Singapore, Hong Kong, South Korea,{{Cite web|title=ShopBack makes foray into South Korea with Ebates Korea buy|url=https://www.businesstimes.com.sg/garage/news/shopback-makes-foray-into-south-korea-with-ebates-korea-buy|access-date=2021-05-13|website=www.businesstimes.com.sg|date=28 April 2020 }} Taiwan, Thailand, Vietnam, and New Zealand.
History
ShopBack’s founding team was previously from Zalora.
In April 2020, ShopBack announced the acquisition of Ebates Korea.{{Cite web|title=Tech in Asia - Connecting Asia's startup ecosystem|url=https://www.techinasia.com/shopback-expands-korea-ebates-buy|access-date=2021-05-13|website=www.techinasia.com|language=en-US}}{{Cite web|date=2020-04-28|title=ShopBack enters South Korea with acquisition of Ebates Korea|url=https://qualgro.com/portfolio-company/shopback-enters-south-korea-with-acquisition-of-ebates-korea/|access-date=2021-05-13|website=Qualgro VC|language=en-US}}
On 17 September 2020, ShopBack suffered a data breach.{{Cite web|title=Customer Notice FAQs|url=https://support.shopback.com.au/hc/en-us/articles/360054141274|access-date=2020-10-27|website=Shopback AU|language=en-US}}{{Cite web|title=ShopBack Data Breach|url=https://www.ozbargain.com.au/node/568593|access-date=2020-10-27|website=OzBargain|language=en}}{{Cite web|last=hermesauto|date=2020-09-26|title=Singapore's data privacy watchdog investigating customer data breach at ShopBack|url=https://www.straitstimes.com/singapore/singapores-data-privacy-watchdog-investigating-customer-data-breach-at-shopback|access-date=2020-10-27|website=The Straits Times|language=en}} They notified customers 8 days later on 25 September 2020.{{Cite web|last=|first=|date=2020-09-26|title=ShopBack and RedDoorz investigating data breaches|url=https://www.businesstimes.com.sg/garage/shopback-and-reddoorz-investigating-data-breaches|archive-url=|archive-date=|access-date=|website=Business Times (Singapore)}}
Funding
For its first round of seed funding, ShopBack raised over US$500,000.{{Cite web|url=https://vulcanpost.com/174511/steady-silent-and-deadly-inside-singapores-hidden-gem-startup-shopback/ |title=Steady, Silent, and Deadly: Inside Singapore's Hidden Gem Startup, ShopBack |date=17 February 2015 |accessdate=27 March 2015}} The company has since experienced a fast growth.{{Cite web|url=http://www.businesstimes.com.sg/technology/shopback-eyes-s-e-asias-us60b-e-commerce-market |title=ShopBack eyes S-E Asia's US$60b e-commerce market |date=17 February 2015 |accessdate=27 March 2015}} In March 2015, ShopBack received further investment funding of US$600,000.{{Cite web|url=http://www.dealstreetasia.com/stories/shopback-secures-us600k-seed-funding-3771/
|title=Shopback secures $600k seed funding from East Ventures & Accel-X |accessdate=27 March 2015}}
In November 2017, ShopBack revealed it had raised US$25 million, a round led by Japanese finance and credit card company Credit Saison, with participation from Blue Sky, AppWorks, Intouch Holdings, Aetius Capital, 33 Capital, SoftBank Ventures Korea, Singtel Innov8, Qualgro and East Ventures, bringing their total funding to US$40 million.{{Cite web|url=https://techcrunch.com/2017/11/06/shopback-raises-25m/
|title=ShopBack raises $25M for its cash back shopping service in Southeast Asia |date=7 November 2017 |accessdate=15 November 2017}} Today, ShopBack averages an order every 2 seconds, with an annualised sales figure of over US$500 million and 5 million users in early 2018.{{Cite web|url=https://www.techinasia.com/shopback-25m-funding/|title=ShopBack bags $25m in latest funding round|accessdate=15 November 2017}}
In April 2019, ShopBack announced that it has closed a US$45 million round led by new investors Rakuten Capital and EV Growth, bringing their total funding to US$85 million. The investment will see Amit Patel, who leads Rakuten-owned cashback service Ebates, and Willson Cuaca (Managing Partner of EV Growth and East Ventures), join the board.{{Cite web|url=https://techcrunch.com/2019/04/09/shopback-raises-45-million/
|title=ShopBack, a cashback startup in Asia Pacific, raises $45M from Rakuten and others |date=10 April 2019 |accessdate=28 August 2019}}
ShopFest
ShopBack ShopFest{{Cite web|url=https://kr-asia.com/asian-shopping-platform-to-bring-together-shopee-lazada-taobao-and-qoo10|title=Asian shopping platform to bring together Shopee, Lazada, Taobao and Qoo10|date=30 August 2018 |language=en-US|access-date=4 September 2019}} is an annual event hosted in partnership between e-commerce brands and ShopBack. Across the APAC region, ShopFest puts together major shopping events during the year end sale season.
ShopFest starts in September (November for Australia) and lasts for 4 months till December. Regionally, ShopBack holds the 9.9 Sales, 10.10 Sales, 11.11 Sales, Black Friday Cyber Monday Sales and 12.12 Sales.{{Cite web|url=https://www.shape.com.sg/lifestyle/shopping-dates-singapore-best-deals/|title=12 Biggest Sales in Singapore Not to Miss|date=2019-07-03|language=en-US|access-date=4 September 2019}} Other highlights of ShopFest includes MyCyberSale in Malaysia{{Cite web|url=https://www.digitalnewsasia.com/digital-economy/shopback-launches-shopfest-highlight-six-major-online-sales-q4|title=ShopBack launches ShopFest to highlight six major online sales in Q4|date=2018-08-22|language=en|access-date=4 September 2019}} (27 Sep - 3 Oct), the 12.12 Hari Belanja Online Nasional{{Cite web|url=https://www.wartaekonomi.co.id/read207559/harbolnas-shopback-catat-transaksi-tertingginya-sepanjang-2018.html|title=Harbolnas, ShopBack Recorded Its Highest Transaction Throughout 2018|access-date=4 September 2019}} (Harbolnas) in Indonesia, and Click Frenzy{{Cite web|url=https://www.powerretail.com.au/in-focus/click-frenzys-record-breaking-mayhem/|title=Click Frenzy Mayhem Smashes Records|language=en-US|access-date=4 September 2019}} in Australia (12 - 13 Nov)
References
{{reflist}}
External links
- {{Official website|https://corporate.shopback.com/}}
{{Customer loyalty programs}}