Earlier this year,OnBuy has completed the financing of 35 million euros. A while ago, it announced the establishment of a new partnership with PayPal. During this period, it also cooperated with major brands to continuously increase the pace of expansion. The IPO is expected to take place in the next two years.
OnBuy was founded in the United Kingdom and is active in many European countries and regions. It plans to expand to more than 140 countries.In January, the company's valuation was about 200 million euros. In the past 12 months, the turnover of the platform has increased by 200%. During the weekend of Black Friday, the sales increased by 25% year on year.
Recently,To reward employees for their hard work，OnBuy will grant more than 1 million Euros of stock options to its employees. More than 100 employees will have the right to choose to hold shares in the business. Each employee will receive stock options equivalent to about 25% of his/her annual income,May be exercised during any liquidity event.
In this regard,OnBuyIt is believed that,“E-commerce is a fast-paced businessFor 24-hour business, many companies have recently become the focus of attention due to poor work and in some cases abuse of employees. Frankly, this is unacceptable. At OnBuy, we are committed to creating a fair and transparent working environment for all.”
OnBuystillSaid that it is committed to becoming a fair partner of retailers,thereforeIt will not create its own product line to compete with sellers. It has a fixed cost structure, which is reduced on Black Friday85%, the seller can provide more promotional activities without losing profits.
OnBuyThe development level of,in especialIn 2020, it achieved a year-on-year growth of more than 600% for the third consecutive year。The epidemic slowed down, consumers' shopping habits returned offline, and sales of many e-commerce platforms declined,OnBuyThe performance is still excellent.
In the next few months,OnBuy plans to further expand internationally and launch mobile applicationsThe follow-up development trend is also worthy of our expectation。