CatchTheEye AS, a privately owned company behind the «oohgle» service, has launched their own group buying solution. Subscribers, within the reach of 500,000, receives daily deals on the fly via their mobile phones as SMS. The purchase-rate surpasses traditional daily deal services by far, simply by providing the deal directly into endusers pockets.
CatchTheEye fully owns the oohgle technology, customized to reach all kind of mobile phones with a 1-click purchase and payment solution. They have a unique functionality to support daily deals for national retail chains including a secure validation system – it´s all mobile.
They operate partly along with partners such as carriers, and have a signed deal with Tele2 as launching partner. The partner model makes the customer acquisition cost low and the growth rate high. Tele2 endusers receives daily deals, Tele2 increase ARPU and achieve churn targets. oohgle in currently being launched in Norway, followed by the Swedish market in H2 2011, and a subsequent rapid launch across Europe. Tele2 is present in 11 countries and has more than 31 million unique mobile phone customers.
«When we piloted the daily deal mobile service, 85% of the end users requested us to launch the service. There are many parts of the world where the mobile penetration far surpasses online users» – according to CatchTheEye´s CEO Tor Olav Haugen. «Scandinavia is an ideal test bed for the service because we adopt new concepts early, even though our approach is global»
CatchTheEye have teamed up with Carnegie ASA as the placement agent to raise m10$ to launch 10 European markets within 2011. There are plans for immediate launch in the Middle East & North Africa (MENA, thereafter Latin America and some Asian markets. «This round of funding is closed by July», according to Mr. Haugen. «There is interest not only from Scandinavia investors, but from several European players and investors from the MENA region.»
«The team behind CatchTheEye has several media and tech start-ups on their track record. They have exited several companies before. Their combined experience within Retail, Media, Mobile Marketing, Technology and Coupons makes investors believe they can do it again», according to Christian Begby in Carnegie.
About CatchTheEye AS
A Norwegian privately owned company established on 7 February 2008 with shareholders Vizrt ASA Havila AS, several private investors as well as the management team. The company HQ is in the media metropolis Asker, Norway.
Tor Olav Haugen (CEO)
Mobile: +47 99229290