Offerna
Its users 50%-90% discounts on various services.
| Date | Investors | Amount | Round |
|---|---|---|---|
N/A | Series A | ||
| Total Funding | 000k | ||
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Offerna emerged in the Egyptian market in March 2011, establishing itself as the country's pioneering e-commerce marketplace built on a group-buying model. The company was founded by a team of professionals, including CEO Abdullah Assal, who imported the group-buying concept to Egypt following the completion of his MBA at Stanford. The founding team also included Sinan Khatib, former Director of Business Development at BuyWithMe; Yasser Lotfy, previously a manager at Etisalat Misr; and Tamer Adel, a regional e-commerce expert.
The venture quickly gained traction, providing daily deals in Cairo and Alexandria with substantial discounts ranging from 50% to 90%. This business model, which aggregates consumer purchasing power to negotiate lower prices from vendors, positioned Offerna at the forefront of the nascent Egyptian e-commerce scene. A significant milestone in its early history was a Series A investment from the Technology Development Fund (TDF), managed by Ideavelopers, which provided the capital for strategic growth. This funding facilitated key moves, including the acquisition of eDealo.me, another collective buying website, in late 2011, solidifying its market position.
Initially focused on daily deals, Offerna's revenue model was based on taking a commission from the sales generated through its platform for various goods and services. Over time, the company has diversified its service offerings to cater to a broader range of business needs. Its current operations encompass online consultancy, the development and management of loyalty programs for other businesses, the creation of online applications, and the execution of SMS marketing campaigns, in addition to its original group-buying service. This evolution indicates a strategic shift from a purely B2C model to include B2B services, addressing the wider digital transformation needs of the Egyptian market.
Keywords: Egypt e-commerce, group buying, daily deals, Abdullah Assal, online marketplace, e-commerce platform, collective buying, retail technology, loyalty programs, online consultancy, SMS campaigns, digital marketing Egypt, eDealo.me acquisition, Ideavelopers, Technology Development Fund, Cairo, Alexandria, B2C e-commerce, B2B services, digital offers, customer discounts
