Poundit

Poundit is an e-commerce platform that specializes in offering a wide range of electronics and gadgets, catering to tech-savvy consumers and businesses seeking quality products and convenient shopping experiences. Poundit, founded in 2014 by Mark Reyes, operates out of Pasig City, Philippines. The company has secured Series A funding totaling USD 0. 85 mn, with the latest investment round on December 5, 2019, involving contributions from investors such as 2be.

lu, Tigris Capital, and Vulpes Investment Management. The company has made two significant deals to date and currently holds a valuation of USD 6. 465 mn. Poundit.

com specializes in providing a comprehensive platform for electronics and gadgets, catering primarily to tech-savvy consumers and businesses seeking quality products. Their core offerings include a diverse range of electronics such as smartphones, laptops, and accessories, all aimed at enhancing user convenience and satisfaction. Established to streamline the purchasing process, the platform allows customers to browse, compare, and purchase products seamlessly. Poundit serves a broad customer base across various geographical markets, including Southeast Asia and the Middle East, focusing on delivering high-quality technology solutions that meet the needs of both individual consumers and corporate clients.

The revenue model at Poundit. com is structured around direct-to-consumer sales, with customers purchasing products directly through their online platform. In the most recent fiscal year, the company's revenue was USD 449,991. 70, with an EBITDA of USD -231,311.

40. Transactions are facilitated through a secure e-commerce system that supports various payment methods, ensuring a convenient shopping experience. The company may offer different pricing tiers and promotional discounts on specific flagship products, enhancing its competitive edge in the market. Furthermore, the business model may involve partnerships with technology suppliers and wholesalers, allowing Poundit to expand its product offerings while maintaining a sustainable revenue stream.

Poundit plans to utilize its recent Series A funding of USD 0. 85 mn to enhance its product line and develop new technologies for its online platform. Although specific new products have not been detailed, the company is committed to expanding its offerings. Additionally, Poundit aims to explore growth opportunities within new markets across Southeast Asia by 2022, leveraging its existing partnerships and distribution channels to increase its reach.

The support from recent funding will be critical in implementing these strategic initiatives.