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Online retailer Huddlebuy secures £325,000 in Angel funding


Leading entrepreneurs including Alex Chesterman (co-founder of LOVEFiLM and Zoopla) and well-respected angel investors including Sherry Coutu participated in the funding.

Huddlebuy.co.uk uses the online group buying strategy that has captured the imagination of the nation’s consumers through sites such as Groupon and Living Social, but applies it exclusively to business services and goods. This enables sole traders and SMEs to benefit from the purchasing power experienced by big blue-chip businesses.

Huddlebuy.co.uk is the brainchild of entrepreneurs Per Larsen (ex-Apple), Chieu Cao (ex-Microsoft) and Saurav Chopra (ex-Deloite / Yahoo!). They created the service after leaving their positions in established tech companies when they spotted a gap in the online market for an internet-based buying group aimed at small businesses.

With Huddlebuy, companies secure the deal when it reaches a tipping point, which varies from product to product and supplier to supplier but averages around 3-5 buyers per deal. The site currently runs between 10 and 15 deals at a time and leverages Facebook and Twitter to help businesses share the word.

Co-founder, Per Larsen, comments: “Offline buying groups have been providing considerable savings to medium and large businesses for years, while online buying groups have only been targeted at the consumer market. It struck us that if the man on the street can get such a great deal on a product or service online then the same concept should be applied to small businesses.

“With Huddlebuy, we source high quality and totally relevant business products and services and offer them to members of the small business community at volume prices — and it doesn’t cost them a penny. We also encourage any reputable and reliable suppliers, which are looking to tap into the SME market, to come to us and create awareness of their products through Huddlebuy.

“Our sole focus on saving SMEs money is particularly important at a time of rising inflation and weaker bottom lines. Small businesses are the backbone of British business and to enable them to benefit from better service and product pricing genuinely supports growth.”

Alex Chesterman comments: “Small businesses have historically suffered from a pricing disadvantage due to lack of buying power. Huddlebuy solves this problem for small businesses and the team have delivered a market-leading platform that will deliver all the benefits of the Groupon bulk-buying model and help to level the pricing playing field for small business owners everywhere.'

Alongside its live deals, Huddlebuy also offers a ‘request a deal’ service where businesses can register their interest in a deal that has expired or a new one they would like to see on the site. Huddlebuy then contacts its extensive network of suppliers to re-request the deal or encourage them to offer it for the first time.


Publisher Contact Information:

Huddlebuy
+44 (0) 208 123 2388
per@huddlebuy.co.uk

Company profile of Huddlebuy
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