The big business of deals and coupons

Every day, 100k+ smart people read our newsletter. You can sign up here.

Hi readers,

I think I’m not the only one who made impulsive buys last year, after being cooped up for so long (please tell me I’m not the only one). I looked around for some deals on office chairs to upgrade my work-from-home station and, admittedly, I had fun while doing so.

But as I was browsing, I forgot to check if there were cashback coupons that I could have gotten with my order. The thought, of course, popped into my mind 0.48 seconds after hitting the “confirm purchase” button.

After that, however, I made sure to remember (or tried to, at least) to be on the lookout for deals and coupons when shopping online. Shopping and vouchers go hand in hand, and ShopBack users appear to know this, as most of the company’s 150% revenue surge came from purchases made through its rewards platform.

With digital services, especially ecommerce, getting a boost from the Covid-19 pandemic, the growth looked natural for ShopBack. And since the Singapore-based firm’s seems to be in the process of raising more capital, it looks like it’s not done growing.

However, as more and more people get vaccinated, Covid-19 will eventually subside. Do you think ShopBack’s numbers will follow the decline in cases or will the company emerge stronger than ever?

— Miguel Cordon, news writer at Tech in Asia

TOP STORIES THIS WEEK

1️. ShopBack posts 150% revenue growth, earns 3x return on Seedly investment
ShopBack has also raised an initial US$7.3 million in an ongoing funding round.

2. Visual: Startup unicorns are becoming decacorns faster than ever before
The global decacorn club grew 50% in just the first half of 2021, and more are hailing from startup ecosystems outside of the US and China.

3. How a Singapore crypto startup became a unicorn in just 2 years
Established by high-profile founders, Matrixport promises zero-cost loans and double-digit annualized yields to its clients.