An Aussie Deals website gets Capital Funding



For a long time, we complained about the slow pace in Australian deals websites segment but it seems like things are finally starting to change for better. A report from SmartCompany reveals an early funding for Starthere.com.au, a deals cashback site started in 2010. There is no indication of exact amount of funding by capital equity group Aura Capital but the mere fact that Deals website are starting to attract attention from investors is a very encouraging news for this segment.

Australia still remains an untapped market compared to US and UK where a suitable economic ecosystem already exists to support high growth in deals segment. Coupons.com, a leading US coupons website, was valued to be worth $1 billion last year and sites like SlickDeals and Fatwallet have grown so fast that they now employ staffs of more than 100 each. While the size of US economy is many times larger than Australia, our deals websites segment has a lot of catch up to do and an early involvement from venture capital companies will soon make this segment a very interesting place.