Bangkok--7 Sep--Dealicious
The daily deals scene in Thailand has gained tremendous popularity in recent months,as a quickly-expanding base of eager customers are matched to local merchants offering exciting lifestyle deals at up to 90% off normal retail prices. At the forefront of this market activity is Dealicious.co, the leading daily deal site in Thailand, which has taken on a strategic investment partner, Sparx Ventures, to aid in its exponential growth over the coming months.
Simon Gerovich, Executive Chairman of Evolution Capital and Founding Partner of Sparx stated, “Sparx is excited about the opportunity to partner with Dealicious as the company continues to grow at an exceptional rate and consolidates its position atop the Thai daily deals market. Dealicious and Sparx have mapped out various exciting offers to launch in the coming months,and we look forward to sharing them with our customers.”
Sparx brings fresh capital of an undisclosed sum to Dealicious’ current operations, as well as partnerships in the media and advertising space through its partners and other investee companies. This was reiterated by the co-founder of Dealicious.co, Severin Jan Ruegger, who stated, “this move helps us gain a significant competitive advantage by reaching offline clients, increasing media value, and sales volume.”
Investment capital will be used to scale operations by moving the company’s workforce into larger premises, tripling staff numbers, increasing marketing spending, giving the website a new look, and formulating strategies to conquer the daily deal market. These expansion activities are designed to increase the reach and brand popularity of Dealicious.co as it strives to accessa wider segment of customers as well as merchants.
Dev Appanah, CEO and co-founder of Dealicious.co, added, “we’re going to extend our reach to over half a million customers by the end of 2011, and plan to work with around 2,000 uniquemerchants.”
For more information or interview requests, please contact [email protected] or +66 2 611 9387.
Dealicous partners with the best local, national and regional businesses to craft exclusive offers on the best things to do, see, buy and eat in major cities in Southeast Asia. This highly efficient and cost effective form of advertising lets merchants offer consumers the opportunity to save money by purchasing an array of goods and services at discounted prices while simultaneously supporting their local businesses. www.dealicious.co.
Sparx Ventures provides early-stage venture capital and mentoring for promising, high-growth internet-related businesses in South East Asia. The firm takes an active approach to investing, striving to build collaborative relationships with entrepreneurs by providing funding, technology guidance, legal and accounting support, IT infrastructure, and business plan optimization. Sparx Ventures is managed by Evolution Capital Public Company Limited, a diversified alternative asset manager and investment advisor focused on emerging Asia, in partnership with its subsidiary Monster Media, Thailand’s leading digital media agency, specializing in interactive media for events, and out-of-home media, as well as providing a broad range of technical and marketing services. www.sparxventures.com.
Evolution Capital Public Company Limited, listed on the Stock Exchange of Thailand, is a diversified alternative asset manager and investment advisor focused on emerging Asia. The firm manages private equity funds, real estate funds, and other investment vehicles employing a variety of investment strategies across a range of industries and asset classes, with exposure to real estate, hospitality, digital media, e-commerce related businesses, and financial services. In addition, the firm combines its local expertise, global reach, and distinctive perspective to provide clients with superior investment insight. www.evolution.co.th.
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