Technology | Online Retail | Innovation
Keynote | After Dinner | | Innovation | Motivation | Inspirational | Commerce
Gabby Leibovich began his career in retail selling electrical goods. With a keen marketing eye, he saw the potential of the internet to deliver better value for customers and in early 2006, with his younger brother, founded CatchOfTheDay an ecommerce business based on a new online retail model offering ‘a deal a day’.
The new retailing model was an immediate success, with the company quickly expanding launching spin off sites offering wine, fashion, groceries and experiences with Australia’s leading group buying website, Scoopon.com.au. CatchOfTheDay is now Australia’s #1 e-commerce group, with no signs of its phenomenal growth slowing down.
The group has over 1.5 million registered members who purchase an item every three seconds, 24 hours a day, seven days a week. In 2011 the rapid growth and success of the online retailing group caught the attention on an investment consortium that included James Packer and Tiger Global, who invested $80 million into the business for a minority share.
The group is currently on track to deliver revenues in excess of $250 million for the 2011/12 financial year with plans to expand into further categories in 2012.