Thailand-based online cashback and loyalty platform RebateMango has acquired its competitor DeeDee Cashback.
The deal will boost RebateMango’s user base to more than one million across Southeast Asia. Launched in 2018, the company does business in Thailand, Malaysia, and Singapore. Through this acquisition, RebateMango will also reach 10% of active e-commerce shoppers in Thailand, as reported by local media outlet The Nation.
According to Jesper Kauth, co-founder of RebateMango, the acquisition will allow DeeDee Cashback’s users to access deals, offers, and rewards available on RebateMango’s website and app. “We will also continue to focus on our product offering to enable users to save in more places than ever,” he said in an official statement.
Meanwhile, DeeDee Cashback co-founder Anthony Quinn agrees that this merger will strengthen their business in the region.
Launched in 2015, DeeDee Cashback was the first site of its kind in Thailand. According to Thailand’s Electronic Transactions Development Agency (ETDA), the value of Thai e-commerce grew 14% in 2018, reaching some 3.2 trillion baht (over US$101 billion), and its growth is expected to hit 20% this year, providing a huge opportunity for cashback platforms to grow.
RebateMango claims that it is the first e-commerce platform in Southeast Asia that offers a choice of cashback, air miles, or loyalty points to go with online purchases. The startup currently features more than 300 online retailers across Singapore, Malaysia, and Thailand, including Lazada, Asos, Sephora, iHerb, and Agoda.
Editor: Brady Ng
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