Click Frenzy Owner Prepares For IPO
Global Marketplace, owner of online-sale hub Click Frenzy, and e-commerce platform Power Retail, is eyeing an initial public offering next year.
Before it does so, however, it will finalise the purchase of another e-commerce platform, a move the company says will boost customer sales and lift annual revenue to $20 million.
“Our existence is all about stimulating e-commerce activity and we see a lot of opportunity there,” founder Grant Arnott told AFR. He owns roughly 60 per cent of the company, with Tanarra Capital owning the remaining 40 per cent.
He doesn’t name the proposed acquisition, but hints it’s “a business we think gives us a much bigger footprint and access to new customers and a new market – we think it’s very exciting.
“It also significantly increases our revenue base,” Arnott adds, “which gives us a launch pad to keep growth going.”
Click Frenzy has 1.7 million subscribers, with a growth rate of over 40 per cent per year. It was founded in 2012.