Investor Relations

Overview

Our mission is to make social shopping a new lifestyle for consumers and to empower consumers’ purchases with an efficient, cost-saving purchasing model. We are committed to developing a community-oriented e-commerce community platform in the Southeast Asia region and transforming the e-commerce model into a community-driven experience for consumers. For the year ended December 31, 2022, revenue increased 99.9% to approximately $44.6 million.

We believe that our ‘group buy’ business model has transformed conventional shopping avenues, as we are able to achieve attractive, efficient cost-savings for our customers to enjoy (which are cost savings similar to that enjoyed as a group purchase and bulk order), without having to undertake bulk purchases individually, through a community-centric approach. We believe that this model allows us to offer competitive prices for our customers, which enables us to be a more attractive shopping platform as compared to our competitors.

Our business model has also disrupted the traditional supply chain by cutting out intermediaries to provide a “farm-to-table” supply model. This brings about cost savings to both last-mile suppliers as well as end consumers.

We attribute the success of our community-based business model to our low customer acquisition costs (CAC) and high customer retention rates by building our services around the needs and trends of the local community. This is done through our multi-pronged community-centric business model, where group leaders within each community are responsible for a group of customers within a geographical location.

The core of our business centers around building a strong community network; our community-based platform enables Group Leaders and customers to engage in an interactive shopping experience. By continuing to build a strong customer base and customer loyalty, we are able to transition into other product and service offerings such as travel packages, food delivery services and e-vouchers by leveraging the existing trust and familiarity with our brand.

Our social e-commerce community platform focuses on achieving a global reach and currently operates in Singapore and Indonesia. Since our launch in August 2019, we have successfully served over 269,115 customers, with the help of our 4,692 dedicated Group Leaders who collate and place orders.

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