RebateMango.com, the leading online cashback and loyalty platform, announced the signing of an agreement on the acquisition of large local competitor DeeDee Cashback today. The deal will catapult RebateMango to the top of cashback and loyalty sites in Thailand, having launched in Thailand less than a year ago.
DeeDee Cashback was launched in 2015 and was the first cashback site in Thailand. Users have been benefitting from significant savings when shopping online and being part of the RebateMango eco-system will allow additional benefits plus further choice on how they want their rewards to be paid.
RebateMango has a regional presence in Singapore, Malaysia and Thailand. The key difference between RebateMango and other cashback sites across the globe is its ability to provide different rewards to consumers doing online shopping, with a choice of cashback, air miles or loyalty points. This deal will bring their total user base to well over 1m across all 3 markets. In Thailand, the strengthened position will allow RebateMango to cover almost 10% of active e-commerce shoppers in the country.
This is the first significant deal of this type in this region within the loyalty space and will help to support the positive growth of e-commerce in the region, which in Thailand is expected to be worth US $5.3bn by 2021 with e-commerce shoppers representing 24.5% of the total population.
Mr. Jesper Kauth, Co-Founder of RebateMango and Managing Director of RebateMango Thailand. “This is a really exciting opportunity for us to significantly expand our user base and push forward with our growth and development plans. DeeDee Cashback has done a fantastic job of growing their business since launch and we look forward to giving their users access to our many deals, offers and choice of rewards available through RebateMango’s web and mobile platforms. We will also continue to focus on our product offering to enable users to save in more places than ever”.
Mr. Anthony Quinn, Co-Founder of DeeDee Cashback: “After speaking with Jesper and the team about a collaboration it was clear that our paths were aligned and therefore made perfect sense to join forces. We really look forward to being part of a larger regional team to push the business forward even more”.
Mr. Pawoot Pongvitayapanu, founder and CEO of Tarad.com and advisor for DeeDee Cashback, shared Mr. Kauth’s confidence, saying, “This cooperation between the two former rivals will create extraordinary opportunities for both the consolidated company and their many users in Thailand. E-commerce in Thailand continues to experience dramatic growth and RebateMango is in the perfect position to take advantage of that growth to become a very important player in the industry.”