Singapore start-up chips away at Facebook and Google’s online ad dominance, one click at a time
- Shopback has gained traction thanks to its cashback app, with more than 8 million users and 2,000 merchants
Tucked away in a refurbished factory building in southwest Singapore, Shopback’s headquarters houses only 100 people, about half of its entire workforce. The affiliate marketing firm may only have a fraction of the employees that giants like Facebook and Google have, but Shopback has big dreams – to offer businesses a more efficient way of reaching their customers.
In Southeast Asia, Shopback has gained traction thanks to its cashback app, with more than 8 million users and 2,000 merchants. When users open the Shopback app, they are greeted by merchants ranging from e-commerce platforms like Lazada and Shopee to ride-hailing firm Grab, and food delivery brands like Foodpanda and Deliveroo. Lazada is owned by Alibaba Group, which is the parent company of the South China Morning Post.
Clicking on a merchant redirects the user to the site, and if they make a purchase, Shopback earns a commission and shares it with the user via a cash rebate. More than US$30 million in cashbacks have been awarded up to April this year.
It is seen as a win-win for everybody – merchants only pony up fees if a transaction is made, Shopback takes a cut, and users get money back on their purchase.
“Our goal is to help our merchants [and] to ensure that the customers we bring make a purchase,” said Joel Leong, Shopback’s co-founder and head of merchant development.
