Rocket Internet’s shopping discount site CupoNation comes to Malaysia

German startup factory Rocket Internet announced today that CupoNation, its shopping discount site, is open for business in Malaysia. This foray marks its fourth entry into the Asia Pacific region, after earlier launches in Singapore, India, and Australia. Globally, CupoNation is present in 17 markets.

CupoNation helps shoppers avail discounts and deals from a plethora of ecommerce sites. Listed on the Malaysian store are offers from Amazon, Groupon, Dell, McDonalds as well as Rocket Internet affiliated companies such as Lazada, Zalora, and Foodpanda. The startup says there are more than 500 codes available for consumers in Malaysia, with more being added constantly.

“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) […] By further expanding in Asia, we continue on our path to become the leading savings platform outside the US,” says Andreas Fruth, managing director and co-founder of CupoNation, in an emailed statement.

On the path to profitability

CupoNation says its gross merchandise value (GMV) was almost US$262 million last year and is banking on sustained growth for this year too. In a rarity for a Rocket Internet startup, the venture expects to be profitable in 2016.

Typically, the company charges its partner brands anywhere between five and 15 percent of the purchase value of each deal.

There might be plans of entering other Asian markets in the near future as well.

“In general Southeast Asia is very interesting to us,” explains Andreas. “We are continuously monitoring the markets and assessing its potential […] Whenever the right opportunity comes along we might consider entering.”

The company is not immune to buying competitors either in an effort to scale. It acquired Dutch rival Imbull last year and may follow a similar strategy in the future.

Citing a study by Nielsen-Paypal, CupoNation says it was attracted to the Malaysian market for its 21 million internet users, 7 million of whom purchase online every month.

“With a strong team, global insights, and local synergies we see between the Southeast Asian markets, we are confident about becoming the leading savings platform in Malaysia very soon,” adds Chandan Luthra, managing director of CupoNation Southeast Asia.