Rocket-backed German discount platform CupoNation eyes SE Asia footprint

Rocket Internet SE-backed CupoNation GmbH plans to expand in Asia as the German startup that links shoppers with free coupons and discounts targets making a profit this year.

CupoNation is “actively looking” at new markets in Southeast Asia, Managing Director and co-founder Andreas Fruth said in an interview Tuesday. The company is seeking to at least double its sales this year after an increase of 184 percent to about 12 million euros ($13.5 million) in 2015, he said.

“We are able to make the company profitable in 2016,” Fruth said by phone from Munich, where the company is based. CupoNation is open to acquiring competitors if the right opportunity comes along after buying Dutch rival Imbull last year, he said. Rocket Internet owns about 40 percent in the startup and is its biggest investor.

CupoNation links shoppers with free coupons and discounts for about 20,000 online retailers such as Amazon.com Inc., Zalando SE and Asos Plc. It gets a fee of 5 percent to 15 percent of the purchase value when a shopper buys something, Fruth said.

The company, which is active in 24 countries including the U.S., India and Germany, competes with the likes of RetailMeNot Inc. and CouponDunia. CupoNation and its rivals are rushing to build scale as e-commerce increasingly replaces brick-and-mortar shops in many retail sectors.

Started in 2012, CupoNation helped generate 232 million euros in gross merchandise volume last year and wants to boost that to 400 million euros to 500 million euros in 2016, Fruth said. Investors in the company also include Deutsche Telekom AG and Holtzbrinck Ventures.

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Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.