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The company is targeting the country’s 7 million active online purchasers
RocketInternet has announced today its shopping discount platform CUPONATION is expanding into Malaysia, its fourth APAC market after India, Singapore and Australia.
Launched in 2012, CUPONATION is part of the CUPONATION Group which operates 40 savings platforms in 24 countries globally and generated US$261.8 million worth of sales for clients.
“Malaysia is amongst the fastest growing ecommerce markets in Asia, with a market size of more than RM 5.5 billion (US$ 1.36 billion). As a leading provider of online savings in India and Singapore, CUPONATION will also provide the best saving opportunities to all online shoppers in Malaysia,” said Andreas Fruth, Managing Director and Co-Founder of CUPONATION in an official statement.
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The company is targeting Malaysia’s 21 million Internet users, of which it claims 7 million purchase products online every month.
Notable companies that will be available on the platform include Lazada, Zalora,Foodpanda, Touristly, Servishero, Flower Advisor and Gracias. The platform offers deals across 13 categories such as Fashion & Accessories, Beauty, Health & Wellness, or Travel & Holidays.
It has about 250 employees and at the end of 2015 claimed 19,682 active retailers. CUPONATION also had 34.21 million active users.
Company investors besides Rocket Internet are Holtzbrinck Ventures, New Enterprise Associates, e.ventures, ru.net, Deutsche Telekom Strategic Investments, Silicon Valley Bank and Columbia Lake Partners.
“We are convinced that Malaysia is the best next market to launch out of the CUPONATION India office, given our run-away success in CUPONATION Singapore, which in a matter of few months emerged as the market leader in the online vouchers and savings segment,” said CUPONATION Southeast Asia Managing Director Mayank Sharma in a statement.
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The company is based in Munich, Germany and has additional offices in Paris, Madrid, São Paulo, Gurgaon and Moscow. It was Founded by Gerhard Trautmann, Adrian Renner and Andreas Fruth.
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