Intel Capital, Intel’s global investment organisation has invested in Dealmates to support the Malaysian group buying site’s growth plans.
The investment from Intel Capital would support Dealmates’ efforts to offer a wider variety of deals from more companies as it hopes to introduce new technologies that improve the quality of its group-buying campaigns and provide better services for both consumers and vendors.
“Working with Intel Capital will help us build on our success to date and continue to grow Malaysia’s e-commerce industry. Intel is a global technology leader and we hope to tap into this tremendous pool of expertise to help ensure an additional edge for Dealmates in the group-buying space,” Erman Akinci (pictured right), chief executive officer for Dealmates said.
Sudheer Kuppam , Intel Capital’s managing director of Asia-Pacific said: “Ecommerce offers an important long-term growth opportunity for driving increased broadband and PC usage. This investment in Dealmates further demonstrates Intel Capital’s commitment to foster innovation in Malaysia and promote technology as a key engine for economic growth.”
Dealmates was set up in 2011 as a joint venture between Mindvalley Labs and Catcha Group and has seen a steady increase in sales and registered users since launching its website earlier this year.
It reached the 100,000 user mark in May 2011, after three months in operation and also reached a monthly turnover of RM800,000 during the second quarter of the year.