Many Investors Want AllDealsAsia.com but Founder Chose Iconic Ventures

Iconic Ventures, I choose you!

We recently wrote about AllDealsAsia.com, the group buy deals aggregator which received investment from Iconic Ventures, a fund started by the founders of JobsCentral Group.

The statement sent in to us about the investment didn’t really satisfy my curiosity. It was too general. So I probed further to find out more.

Still, not much more was revealed. Both AllDealsAsia.com and Iconic Ventures are tight-lipped about the investment sum and valuation. But Goh Yiping, founder of the group buy aggregator, did say:

We are unable to disclose the funding amount and valuation right now. However, it is a valuation reflective of what AllDealsAsia.com has achieved and has the potential to achieve in the future.

Yiping did reveal that AllDealsAsia.com had, in her own words, “attracted a lot of attention from investors ranging from VCs, angels and strategic investors.”

With so many investors to choose from, Yiping said she narrowed her choices down to three before concluding that Iconic Ventures should be the investor for her start-up. She explained to us her decision to shake hands with Iconic Ventures was due to the three reasons below:

• They, [the founders of JobsCentral Group], had a proven track record and in-depth experience in the internet space.
• We share similar visions, philosophies, and cultural perspectives on the goals and operations of the company.
• Our team loves working with fellow entrepreneurs who have been there and done that. [We] recognize the experience they can bring to the table.

AllDealsAsia.com works on two revenue streams — (1) Deal aggregation, whereby the site earns revenue share and listings fees from other deals sites; (2) Deal selling, in which the site sells its own group buy offers to its audience.

On deals aggregation, AllDealsAsia is working closely with local and regional sites including Deal.com.sg, Jigocity, Streetdeal, and Outlet.