CashCashPinoy

CashCashPinoy
Privately Held Company
Industry Internet
Fate Inactive website
(as of 13 July 2017)
Founded 2010
Founder Frederic Levy
Laurent Goirand
Sebastien Caudron
Glecy Lopez-Go
Headquarters Ortigas Center Pasig City, Philippines
Area served
 Philippines
Services Online Shopping
Number of employees
 50+ (2016)
Website www.cashcashpinoy.com

CashCashPinoy is a privately held online (Deal of the day) website that sells discounted products, services and travel packages voucher that is located in the Philippines. Formerly located at Lepanto Building Makati, the office is now located in Pasig City, Philippines. The website was officially launched in September 2010 and as of 2015 it has 1.5 million members.[1]

The company set up an end-to-end solution for the Philippine market including IT specialists, sales coordinators, graphic designers, photographers, editors, financial & HR, customer support, logistics, marketing, eCRM specialists etc.[2]

As of 13 July 2017, the company's official website is inactive and displays a message about a "time out" of business activities.[3]

History

The term "CashCashPinoy" was coined using the words cash (for the discount aspect) and pinoy (an informal demonym referring to the local Filipino people). The company was founded by Frederic Levy, together with 2 other French and a Filipino entrepreneur.[4]

The store was initially a self-funded business together with seed funding from angel investors from UK, US and Germany.[5] On May 13, 2011, its' customers pioneered a new type of payment will able to pay their purchase using 7-Connect (7-11’s e-commerce payment system).[6] the store also partnered with Coins.ph (company), a bitcoin exchange company, to allow purchases using bitcoin.

Frederic Levy left the company in January 2015, succeeded by Sebastian L’Hermitte as the CEO of Moonline Inc. Hermitte as CEO,[7] he introduced the Fast-Track delivery wherein customers can get the item the same day they purchased it.[8]

As of 13 July 2017, the company's official website is inactive and displays a message about a "time out" of business activities.[3]

CashCashPinoy.com

The website is a membership-based online retail site that uses a flash sales-style model. The site offers a wide range of discounted products and service voucher. Subscribed customers receive daily email roundups, and can pay for goods in a range of ways (Bank Card, Over-the-counter (finance), bitcoin and cash-on-collection and others), while purchased items can be shipped to directly to customers' home or their preferred address. .[9]

The site proposes 10 to 15 new event sales to its members daily. New sales usually last from 6 to 8 days and also features merchandise from a single brand to small groups of brands. While for services and package tour deal they are featured for 8 to 10 days.[10]

Technology

CashCashPinoy released REVO, a new version of its proprietary platform. It handles data from products sourcing and fulfillment to IT, data analysis, content creation, fraud management to customer support. Recently, they launched CashCashLAB, a new customer feedback programs where company executives and selected members continuously meet via monthly basis to exchange ideas about improving its service for its members. As result from the first session of CashCashLAB, the company decided to launch CashCashBack, an exclusive new loyalty program for members which allows them to earn points that are equivalent to cash every time they shop. Another previous output is allowing payment for orders via COD.[11]

Funding

In 2011, the company received a seed money investment of $300,000 USD mainly from Seed money; in 2012, the company received additional funding of $1,400,000 USD from Angel Investor from international and Filipino successful entrepreneurs. In October 2014, the company has raised $2,000,000 USD from Singapore-based Private Equity firm, Hera Capital.[12] To date, CashCashPinoy has secured around US$4 million in total financing since establishing operations in 2010, which made it one of the most funded startup in the country.[13]

Digital Commerce Association

CashCashPinoy is a co-founder of the Digital Commerce Association of the Philippines (DCOM), and Frederic Levy has served as the Vice President of the non-profit organization.[14]

Awards

In 2015, CashCashPinoy received the Golden Globe Annual Award for Business Excellence in the category "Best e-commerce website".[1][15]

References

  1. 1 2 CashCashPinoy Best Filipino E-commerce Website 2015
  2. ↑ CashCashPinoy: Private club shopping in cyberspace
  3. 1 2
  4. ↑ How CashCashPinoy Found the money trail
  5. ↑ "CashCashPinoy". Crunchbase. Retrieved October 13, 2016.
  6. ↑ CashCashPinoy purchases made secure and convenient with 7-connect
  7. ↑ CEO of the company
  8. ↑ Fast-Track Delivery
  9. ↑ "CashCashPinoy Lands $2.25M To Build Out The E-Commerce Opportunity In The Philippines."
  10. ↑ Why CashCashPinoy made the pivot from selling services to products
  11. ↑ CashCashLab Launched
  12. ↑ "Hera Capital Invests US $2M into CashCashPinoy, a Leading E-Commerce Player in the Philippines."
  13. ↑ CashCashPinoy, Leading Philippines Online Shopping Club Releasing REVO
  14. ↑ Linkedin
  15. ↑ "Year 2015 Winners - Philippines Best Companies". www.philippinesbestcompanies.org. Retrieved 2016-10-13.
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