Sales site eyes 1m members, acquires funding - ToyNews

Sales site eyes 1m members, acquires funding

Casabu secures £900,000 in investment; CEO targets new customers.
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Daily 'flash sales' start-up website Casabu wants to reach one million members by the end of 2013.

The news comes after the ten-month-old company secured £900,000 in funding.

The site saw new sign up soars shortly after launching last year, as previously reported by ToyNews.

The fresh investment was led by Ingenious Ventures. Existing investors, Horatio Investments, also took part in the Series A funding round.

Casabu runs daily sale events through its website offering "time-poor, price-conscious" mums discounts of up to 90 per cent on toys, clothing, nursery equipment and maternity wear. Sales last as little as 48 hours and feature a mix of well known and up-and-coming brands.

Casabu was named one of the top 20 start-ups of 2012 by start-ups.co.uk.

Rachel Oxburgh, Casabu’s CEO (pictured), said: “The beauty of the flash sales model is that we don’t need to sink capital into stock and we can use this investment to grow our customer database.

“As well as acquiring customers through traditional channels, we will be investing in new technologies that enable us to deliver the best in customer curation, personalisation and social shopping.

“Both parents and their children have individual taste and style and are primarily interested in products that are age-appropriate, but UK retailers in the baby market currently offer a ‘one size fits all’ approach.

“In the US we are witnessing start-ups achieving great success by putting the customer at the controls of the business development. Mums are time-poor, but know what they want. We are planning to take the flash sales concept to a whole new level, providing women with the service they want, when they want it and how they want it, placing them firmly at the heart of everything we do.”

Patrick Bradley, CEO of Ingenious Ventures, added: “Casabu is just the sort of company Ingenious Ventures loves to work with. When we met Rachel and her team, we were immediately impressed by their ambition and enthusiasm, but most of all their innate understanding of the market they are targeting: time-pressed parents looking for good value clothes and toys without sacrificing quality or style.”

Last year Casabu said flash sale sites are disrupting traditional toy retail.

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