What is WEBUY? WEBUY Review

Founder Introduction

Vincent Xue, Co-founder and Chief Strategy Officer of ezbuy, a comprehensive e-commerce platform in Southeast Asia. He holds a Master of Science from the National University of Singapore and a Bachelor of Science from Fudan University. He has worked in the e-commerce industry for 8 years and in the semiconductor industry for 6 years. He co-founded the ezbuy Group and developed it from scratch into a multi-million dollar company with operations in 8 countries.

Operational Model

WEBUY uses the power of social media to run the group buying model, in order to transform the current online e-commerce model into a more interactive and community-driven model.

On average, products on WEBUY are 15% to 20% cheaper than those in supermarkets, and the user repurchase rate can reach 80%.

Financing

In February 2020, the Webuy platform completed a US$3 million financing.

In November 2020, WEBUY, a social e-commerce platform headquartered in Singapore, announced that it had completed a US$6 million Series A financing round led by Wavemaker Partners, with participation from Rocket Internet Investment, Indonesia's Telkom Venture Capital, and South Korea's KB Group. WEBUY plans to use the funds to recruit talent, optimize its data-driven platform, and enter the Vietnamese and Philippine markets to further expand its business coverage.

References

• 1. Exclusive Interview | How does Southeast Asian social e-commerce WEBUY attract mom fans to bring goods? : Sohu [cited on 2020-02-27T16:00:00.000Z]