A lot of impressive stuff is happening in the South-West of the UK at the moment.
Where could you imagine the next Amazon being born? London, Manchester, Bristol? No, apparently it is in Poole, Dorset.
OnBuy is a UK online marketplace packed with great prices on millions of products from thousands of online retailers.
Cas Paton, the founder at OnBuy, started the business to offer retailers a fairer, more transparent platform to sell their products to buyers.
London based, Fuel Ventures backed OnBuy to the tune of £5 million in their Series A.
During COVID, OnBuy recorded growth of 600% in 2020 – despite a worldwide slowdown in economic growth. This follows a 600% increase in 2019 and a 500% increase in both 2017 to 2018. Now that is winning.
Team Size – 50 and growing see the OnBuy job board
Growth Rate – 24,000% GMV growth | Over 4 Years
Product Range / SKUs – 50 million
Unique Site Visits – 4 million
Retail Without Borders Awards – Winner
OnBuy’s founder and CEO, Cas Paton, commented,
“These incredible growth figures are evidence that the market desperately needed a marketplace like OnBuy that, through creating an eCommerce ecosystem that benefits online retailers and customers equally, can provide a sustainable long-term solution to selling and shopping online.”
“We’ve evidently found the right formula for success: we’re already running at £120m in sales and we haven’t even launched globally yet. Ahead of our phased launch into over 140 countries, where we’ll have the widest reach of any online marketplace, we’re investing heavily in the UK site with a massive Q4 planned. We expect to 5x our millions-strong audience this year, which will further accelerate our 24,000% growth. We’re projecting a turnover of £2 billion in sales by 2024, and we’re set to claim 3-5% of the £84bn UK eCommerce market in the next three years.”
Welcome to the business slapathon, where whenever you progress, you get pushed to the floor – over and over again. Being a resilient, young-ish almost 30-year-old, this is fine. I get back on the horse, say it’s a learning experience and move on. That said, in the current climate, I feel like it’s time to talk about positivity.
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I’m the founder of The Difference Group. We are focused on helping you grow faster, increase profits, find you new and nurture existing customers.
I started my career at LinkedIn and have collaborated with a large number of startups, scaleups and SMEs throughout my career.
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