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7 Cashback Leaders to Watch

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Why You Should Be Watching These Seven Global E-commerce

& Cashback Industry Innovators

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Note, these excerpts do not contain all company profile information published in the full report. They are highlights provided for quick reference and reader insight.

Global industry comes of age

The recently published 2015 Cashback Industry Report provided the first in-depth analysis and review of the estimated $84 billion global cashback industry.


In profiling 235 cashback and e-commerce companies utilizing cashback marketing strategies, we identified seven companies that should be on the radar for every cashback, e-commerce, online retail, marketing professional, venture capital and investor.


In these excerpts from our global report, we highlight why these companies matter and what you can learn from what they are doing in a unique segment of the booming global e-commerce marketplace.

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India’s e-commerce market is now worth an estimated $525 billion with more than 250 million users. It’s no wonder Flipkart and other leading Indian e-commerce companies have attracted the early attention of a score of venture capital and private investors.


In the past year, Flipkart has raised more than $3 billion in venture capital and a recent report from CB Insight suggests it now has a valuation of more than $15 billion. With sales of more than $4 billion in 2014 and more than 20,000 employees,


Flipkart is the clear leader in online retail in India.

The company set an ambitious goal to double its revenue to $8 billion by the end of 2015 but it has not yet made a profit despite its significant growth.

Subsidiary Myntra, a fashion retailer it acquired in 2014, reported 70% of its sales were coming via mobile and in June 2015 it took its business entirely mobile. Flipkart plans to follow that strategy in 2016 as well which makes the company a very interesting e-commerce and cashback model keep an eye on.

Flipkart: Fast, well-funded & going all-mobile

Launched: 2007

HQ: Bangalore, India


2014 Revenue: $4 billion

# Merchants: 30,000

# Members: 40 million

Alexa traffic rank: #88

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Launched: 2003, cashback in 2011

HQ: Ft. Lauderdale, FL


2014 Revenue: $4.5 million

# Merchants: 5,000 US, 10,000 global

# Members: N/A

Alexa traffic rank: #14,314

Ominto: Fresh faces, new investment, relaunching soon

Ominto (OTC: OMNT) was originally founded as DubLi in 2003 as an online auction company. It then relaunched as a cashback company in 2011. Working from its US headquarters, the company rapidly expanded between 2012 and 2014 and now operates in 21 countries with consumer access now available in more than 100 countries.


The company provides cashback rewards and value-based travel and shopping, to online customers, originally through, an e-commerce and web portal that enables consumers to shop, find deals, and then earn cashback with online purchases.


It also operates which offers entrepreneurs an opportunity to build their own organizations within a multi-level marketing structure. In addition, it offers, a co-branded platform that provides participating businesses and (cont...) 

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nonprofit organizations a white label online shopping website with access to DubLi’s online shopping resources. consumers.


Early in 2015, the company rebranded as Ominto, installed a new Board of Directors and a new CEO with deep experience in technology. The company has ambitious plans to relaunch its entire platform as in September 2015.


Forrester estimates 2014 US online shopping sales totaled more than $294 billion and projects it to grow at a 9.5% annual com­pound growth rate to more than $414 billion by 2018. Online shopping now represents 9% of all sales in the US.


With that kind of growth, new investment and Ominto’s hiring of a growing list of experienced e-commerce executives, you can expect to see a big, new cashback competitor out to gain significant US and global market share with consumers.

Ominto (cont...)

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Launched: 2007

HQ:  Berlin, DE


Operations: 110 countries

Employees: 30,000


Rocket Internet takes off around the globe

E-commerce in the EU grew 18.4% in 2014 to more than $176 billion according to research from RetailMeNot and the Centre for Retail Research. Surprisingly, this growth surpassed the 14% growth in the US last year. By 2018, EU e-commerce should reach $256.8 billion.


While that’s impressive growth, the most interesting EU story from our 2015 Cashback Industry Report is the takeoff of Rocket Internet GmBH. Based in Berlin, Germany, it has created and operates more than 140 e-commerce and shopping websites around the world in most major markets. Some of its largest and most successful ventures include FoodPanda, EasyTaxi, and PricePanda in Singapore, India and Europe.


Rocket created Regional Internet Groups in Africa, Asia Pacific, Latin America and the Middle East in order to bundle local market and business model insights, build (cont...)

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regional commercial, strategic and investment partnerships, in particular with mobile telecom providers to accelerate the regional rollout of its companies.


Its cashback properties include CupoNation in 22 markets, Lazada in Southeast Asia and Linio in Brazil and across Latin America. In India, its biggest online fashion property is Jabong, Lamoda in Russia and Zalora in Southeast Asia.


While the business by itself is impressive, one of the most interesting observations is how the company builds impressive creativity and design into every one of its online properties. They’re a pleasure to view and navigate and consumers are responding with their wallets.


We expect the Rocket Internet brands to continue their rapid growth in Europe, SE Asia and Latin America as other global players try to catch up to its relentless and impressive pace in creating new e-commerce and cashback properties.


Rocket Internet (cont...)

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Quidco: Innovating in a mature UK cashback marketplace

Launched: 2005

HQ: London, UK


2014 Revenue: $1.23 billion

# Merchants: 4,200

# Members: 5 million

Alexa traffic rank: #6,318

A recent study from the Internet Advertising Bureau UK (IAB) by PwC provides an in-depth look at the scale and depth of the affiliate marketing and cashback market in the UK. It found for example that online performance marketing (OPM) such as price comparison, cashback and voucher websites, generates more than 10% of UK ecommerce retail sales or 1% of GDP.


The report also gives us a snapshot of how cashback and OPM tactics drive consumer purchases online:

79% of consumers in the UK have used websites with one of the OPM techniques UK residents click more than 10 million times daily to search for deals.

While the UK is a mature and competitive cashback marketplace, that hasn’t stopped market leader Quidco from innovating to stay ahead of competitors like TopCashback. (cont...)

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Launching in 2005, it has grown into one of the most successful cashback sites in the world with more than five million registered members and more than 90,000 joining every month. In 2014, Quidco reports it saved members more than $78.6 million and generated more than $1.26 billion in sales for its merchants.


Quidco’s in-store app lets members connect their debit and credit card to their account, earn-ing cashback on in-store purchases with participating retailers in many product and service catego-ries. Quidco Opinions offers cashback for completing surveys and the Cashback Reminder desktop browser app notifies members whenever cashback is available while browsing online.


What Quidco does in the UK, others follow. So for other global competitors, keeping a watch on Quidco makes perfect sense.


Quidco (cont...)

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China stocks may stumble, but e-commerce & Ebates' growth is inevitable

Launched: December 2014

HQ: Shanghai, CN


 2014 Revenue: N/A

 # Merchants: 1,800+

 # Members: N/A

 Alexa traffic rank: #42,853

AT Kearney research says the Chinese e-commerce market grew at a 70% compound annual growth rate from $21 billion in 2008 to nearly $300 billion in 2013.


Agility Research & Strategy estimates the size of the e-commerce luxury product market is already more than $27 billion.


The most impressive growth and the most interesting to VCs and investors is mobile e-commerce, projected by iResearch to grow from $133 billion in 2014 to $516 billion in 2017.


While the stock market and investments in China may be sagging, numbers like these point to inevitable growth as e-commerce takes hold with Chinese consumers. (cont...)

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As TechCrunch reports: “The e-commerce mar­ket is currently divided between two websites, Alibaba’s Tmall and, which hold a 57 percent and 21 percent share of the B2C market respectively. Alibaba, however, dominates mobile com­merce, with its mobile apps and sites for Tmall and Taobao holding a combined market share of 85 percent, compared to at 7.1 percent and at 1.6 percent.”


This is where Rakuten-owned Ebates provides an interesting story and company to watch in China. After its acquisition by Ebates in 2014, two senior executives of Extrabux set up Ebates' China’s operations in Shanghai, intent on building an e-commerce foothold in this emerging market. is now offering cashback and discounts on a wide range of products from popular international brands such as Bloomingdale’s, Ralph Lauren, New Balance, Victoria’s Secret, REI, GNC, Dell, Lenovo and Best Buy. The irony of course is that many of these international brand products are actually manufactured in China. With major players like Alibaba, big local competitors and investors including Rakuten and Softbank, the e-commerce future in China appears to be a mixture of danger and opportunity.

Ebates China (cont...)

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Launched: 1999

HQ: Seoul, South Korea


 2014 Revenue: $1.54 billion

 # Merchants: 50,000+

 # Members: 37 million

 Alexa traffic rank: #10,556

Another SK Planet e-commerce company to watch is 11th Street. It’s a very popular, high traffic, online shopping site with coupons, vouchers and deals on a wide range of products. In partnership with several national telecoms, the 11 Street franchise now operates in Indonesia, Malaysia and Turkey and we expect to see new countries added in the near future.


Like Rocket Internet in Asia and Latin America, SK Planet has ambitious plans for growth in developing markets across SE Asia.

South Korea’s SK Planet extends its orbit

SK Planet is a successful South Korean telecom company. Its e-commerce operations are well established and have grown into a strong force in South Korea and with other savvy e-commerce partnerships throughout the SE Asia region..


It owns OK Cashbag. Founded in 1999, it was one of the first Asian e-commerce startups. It has grown from a coupons site into a full online shopping site offering coupons, vouchers and cashback to more than five million members and sales of $1.54 billion.

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Latin America is in the early growth stages for e-commerce. eMarketer estimates online sales in the whole region totaled $57.7 billion in 2014. Forrester predicts that by 2019 e-commerce will grow to more than $56.8 billion alone in the three largest markets – Brazil, Argentina and Mexico.


Brazil’s e-commerce market was $17.8 billion in 2014 with an estimated 33.5 million online users. As an independent, home-grown success story launched in 2011, Meliuz now has more than 100,000 members and 1,600 merchants.


The company claims it returned cashback of more than $6.72 million to consumers in 2014 alone and $20 million since it opened.


In 2013, the company expanded into Chile, Mexico, Argentina and Colombia. Meliuz is a company to watch as it sets its sights on growth across Latin America. 

In Brazil, Meliuz makes market moves & plans to grow across Latin America

Launched: Sept 2011

HQ: Belo Horizonte, Brazil


2014 Revenue: N/A

# Merchants: 1,600

# Members: 100,000+

Alexa traffic rank: #25.625

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Published in July 2015, the 2015 Cashback Industry Report provides the first in-depth analysis and authoritative guide to the global cashback industry. It’s an essential reference for cashback companies, online merchants, retailers, financial and payment industries, venture capital firms, investors, cashback industry technologies and marketing strategists.

Need to know about cashback company best practices by industry leaders? Looking to add cashback strategies to your e-commerce, online marketing or retail programs? Want to know what’s happening in key markets like the US, UK, EU, India, China, Australia, SE Asia and Latin America? 

The report provides a detailed review and expert analysis of the industry, new developments and highlights best practices, new product introductions, profiles of 235 leading cashback companies in every major market, trends, and projections for the future of the cashback industry worldwide.

2015 Cashback Industry Report offers insight into 235 global cashback companies


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