Ominto
Place to discover, shop and save at your favorite stores with deals, coupons and cash back.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
N/A | Seed | ||
| Total Funding | 000k | ||
Ominto, Inc. operated as a global e-commerce company centered on a cashback model, primarily through its well-known platform, Dubli.com. Founded in 2003 by Michael Hansen, the company, originally named DubLi, Inc., provided a platform enabling consumers across approximately 120 countries to earn cash back on purchases from a wide array of online retailers and travel companies. The business generated revenue through commissions from merchant sales and membership subscription fees.
The company's business model had two main facets. The first was its direct-to-consumer cashback website, which allowed shoppers to earn rewards on their everyday online spending. The second was a multi-level marketing arm known as DubLi Network, which enlisted independent 'Business Associates' to sell premium memberships and build distribution teams. Additionally, Ominto offered a white-label version of its platform to business clients, enabling them to provide a branded cashback portal to their own customers and build loyalty.
Throughout its history, Ominto experienced significant financial and regulatory challenges. In June 2015, the company rebranded from DubLi, Inc. to Ominto, Inc. to better reflect its global strategy. A notable event was its uplisting to the Nasdaq stock exchange in 2017. However, the company struggled with compliance, failing to file required periodic financial reports with the Securities and Exchange Commission (SEC) from late 2016 onwards. This led to a voluntary delisting from Nasdaq in May 2018, followed by a series of board member resignations. By May 2019, the SEC formally revoked the registration of Ominto's securities due to the persistent failure to meet filing obligations. The company's online presence has since fragmented, with the Dubli domain redirecting to a new entity named SaveMate.
Keywords: Ominto, Dubli, Michael Hansen, cashback shopping, e-commerce platform, online retail rewards, affiliate marketing, network marketing, loyalty programs, partner programs, SEC investigation, Nasdaq delisting, financial reporting, e-commerce history, multi-level marketing, Dubli Network, consumer savings, online shopping portal, travel deals, brand loyalty
