Onbuy

OnBuy
Type of site
 E-commerce, online marketplace
Available in English
Founded 2012 (2012)
Headquarters Bournemouth, Dorset, UK.
Area served UK
Founder(s) Cas Paton
Key people Cas Paton (Managing Director).
Industry Internet, online retailing
Website www.OnBuy.com
Launched November 7th 2016

OnBuy is a British owned European marketplace, based in the UK[1] similar to Amazon.com and eBay .[2] OnBuy is the trading name of Visor Commerce Ltd, which received a major investment from Centerprise International,[3] a UK IT distribution company,[4] in April 2013.

The marketplace is stated to allow businesses to sell a wide range of products from IT equipment, toys and games through to arts and crafts, across 36 European countries.[3]

History

Cas Paton is the entrepreneur behind OnBuy.[5] He started his business career in 2006 in the website development industry.[6]

Subsequently Paton funded, invested and took the Managing Director position at OnBuy alongside Razzak, with additional investment from Razzak's company Centerprise International.[3][7][8]

OnBuy originally launched in Summer 2013 as a soft launch.

In March 2014 OnBuy was placed "on hold" by Centerprise International, with the website going offline.[9]

On 14 July 2014 OnBuy was acquired by Cas Paton, the original founder, for a six-figure sum.[10]

OnBuy is set to re-launch to market on 7 November 2016 for the UK, and in early 2017 for 36 countries across Europe, USA and Canada.[10]

Subscription Business Model

Unlike other marketplaces OnBuy operates on a subscription business model .[11] The principle theory of the subscription business model is that charging sellers a subscription rather than commission means that sellers can lower the cost of products listed on OnBuy, due to the decrease in cost per sale (compared with marketplaces using a per-sale commission model), making products cheaper for customers while enabling the seller to make more margin.

References

  1. ↑ "Upcoming UK Online Marketplace OnBuy To Take on Amazon and eBay". Reuters. Retrieved 2014-02-11.
  2. ↑ Barnes, Laura (2013-04-26). "Online marketplace OnBuy launches to rival Amazon and eBay". Pcr-online.biz. Retrieved 2014-02-11.
  3. 1 2 3 "Centerprise investment set to rile Amazon and eBay". Channelweb.co.uk. 2013-05-02. Retrieved 2014-02-11.
  4. ↑ "Centerprise International Testimonial". Destination Basingstoke. 2011-05-26. Retrieved 2014-02-11.
  5. ↑ "Meet the entrepreneur hoping to rival eBay and Amazon with new website". Businessdorset.co.uk. 2013-04-25. Retrieved 2014-02-11.
  6. ↑ Sacco, Dominic (2013-07-29). "'Amazon rival' OnBuy invites vendors to sign up ahead of November launch". Pcr-online.biz. Retrieved 2014-02-11.
  7. ↑ https://web.archive.org/web/20130615140256/http://in.finance.yahoo.com/news/upcoming-uk-online-marketplace-onbuy-083140971.html. Archived from the original on June 15, 2013. Retrieved May 6, 2013. Missing or empty |title= (help)
  8. ↑ "Upcoming UK Online Marketplace OnBuy To Take on Amazon and eBay". Prweb.com. 2013-05-06. Retrieved 2014-02-11.
  9. ↑ "Online marketplace OnBuy put 'on hold' as website is taken down". pcr-online.biz. 2014-05-20. Retrieved 2014-05-20.
  10. 1 2 "Centerprise sells OnBuy for Six Figure Sum". pcr-online.biz. 2014-07-16. Retrieved 2014-07-16.
  11. ↑ "Sell On OnBuy". 2016-10-26. Retrieved 2016-10-26.
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