Bownty just raised $1.1 million, and is seeing significant growth across several European markets as consumers flock to sites curating and organizing the vast amount of deals.
Bownty is not the only aggregator of daily deals that has raised a large amount of money. Yipit did the same in June 2011 and has since been very successful. Therefore, Bownty’s recent investment adds further credibility to the bet that aggregating deals is the long term winner in this space, as it has been in many similar markets.
- This investment definitely proves that the daily deals market is not dead. We know that there has been a lot of skepticism about the future of the business recently, but we think this investment proves our claim that Bownty, as a deal aggregator, delivers much more value to the consumers, compared to just a single deal site. We gather and offer everything under one roof, which is much more valuable to the consumers considering their busy everyday lives, says Steffen W. Frølund, Founder and CEO of Bownty.
Further development and more opportunities
Bownty is planning to use the investment on further development of the product and to increase consumer awareness. The investment comes from the largest Danish early stage venture capital fund, SEED Capital and Accelerace Invest, a combined startup accelerator and investment program. David Ventzel from Accelerace Invest believes that the deal aggregator can become a very lucrative business for the investors and he is looking forward to seeing the positive results Bownty will deliver in the future.
- We did not hesitate about our investment in Bownty as we are convinced that the company can continue to deliver high growth rates and attractive financial returns. Bownty has found a systematic and scalable business model with a structured and data driven market approach. The fast expansion of Bownty from Denmark to UK, France, Spain and Germany further supports our belief that Bownty is among the future main facilitators of online2offline commerce, says David Ventzel, Senior Management Consultant at Accelerace.
Read more at Techcrunch – http://techcrunch.com/2013/04/04/bownty/
Fredag d. 7. september deltog Bownty i Charity Baren, en fredagsbar, der afholdes en gang om måneden af Børn og Unge i Nød. I forbindelse med eventen donerede Bownty 580 kr. til Børn og Unge i Nød samt udstedte to gavekort til en værdi af 250 kr. hver.
Bownty donerede 10 kr. pr. tilmelding til nyhedsbrevet
I forbindelse med afholdelsen af denne måneds Charity Bar genoptog Bownty for en aften en tidligere aftale med Børn og Unge i Nød, som går ud på at hver en tilmelding til Bowntys nyhedsbrev udløser en donation på 10 kr. Bownty er en tilbudsindsamler, der samler daglige tilbud (såkaldte ’deals’) fra 21 forskellige tilbuds-sider såsom Downtown, Sweetdeal og Groupon, og Bowntys nyhedsbrev indeholder en kategoriseret oversigt over alle dagens tilbud i din by.
Bownty donerer 580 kr. til Børn og Unge i Nød
I løbet af aftenen tog Bownty tog imod tilmeldinger til konkurrencer og nyhedsbrev, alt imens Tesla Motors gav gæsterne prøveture i deres flotte el-biler. Bownty endte op med 58 nye tilmeldinger og donerede derfor i alt 580 kr. til Børn og Unge i Nød. Bownty takker for alle tilmeldinger og er glade for at kunne hjælpe danske børn og unge i nød.
Kasper og Tina vandt et gavekort til Bownty
Bownty afholdte i forbindelse med eventen en konkurrence, hvor man kunne vinde gavekort til deals på Bownty.dk. De heldige vindere blev Kasper Lyng Jørgensen fra klj marketing og Tina Thiel Beck fra Uniqa, som nu har fået lov at shoppe gode tilbud for 250 kr. hver. Man kan få meget for 250 kr., hvis man køber deals. I øjeblikket kan du for eksempel for 250 kr. få en af følgende: en koncertoplevelse, en fem-retters italiensk menu, en vinsmagning, en ansigtsbehandling, et smykkesæt med ferskvandsperler eller en omgang zoneterapi.
Se mere på Bowntys hjemmeside.
A short while ago we announced that Bownty is ready to invite more bright minds on board. But the most important piece of news in relation to this is the investment funding Bownty received from one of the largest Danish venture capital funds, SEED Capital.
It is safe to say that 2012 is already proving to become a groundbreaking year on many levels for our fast-growing startup. The funding received from SEED Capital will first and foremost be used to continue to create an even smoother experience of having an overview of great deals for both current and future daily deal shoppers.
The trend of shopping around for daily deals is consistently on the rise in Europe, where daily deal sites are a relatively new phenomenon compared to the U.S. However, the more popular the concept gets, the more daily deal sites there will be popping up. This in turn will make it harder for customers to have a clear overview of the offers out there without having to sign up for every deal sites’ newsletter. For this reason there will be a lot more focus put on spreading Bownty’s reach over and beyond Denmark in 2012.
In the long run the goal remains the same simple one – avoiding clutter in your inbox from several different deal sites without missing out on great daily offers.
We look forward to bringing many exciting features to you in 2012 and we hope to become useful to many more deal-savvy shoppers!
Some startups leave name-picking to fate. Some follow the latest naming trends. Others use their main keywords and blend them together into a name.
The one thing that all startups do (and should do), is putting a lot of thought into coming up with even one name option.
Here are some things to seriously consider when naming your soon-to-be startup.
1. Keep it simple, stupid
Before anything else, take these guidelines into consideration (yeah, name picking is hard):
- Try keeping it short (1-2 syllables)
- It should be easy to spell
- It should create an emotion that’s related to how you want your brand’s values to be perceived
2. The name has to roll off your tongue
A good exercise for that is to go outside and shout out the name a few times. Seriously.
If it feels funny saying it – bend it, change it, scratch it. Do everything you can until it feels right when you say it out loud.
The name should be natural to say — for humans.
Remember that you are going to have to say that name for at least a thousand times in the future. You have to like it yourself first.
3. Suit the name to the characteristics of your target market
But you have to make sure that your target market would like it too. You should be aware of the characteristics of your target market and what the best way for approaching them would be.
If your startup is within a conservative industry, coming up with a cute dog’s name is probaly not the best way to go. The name has to sound right to the people you are trying to sell your product.
If the target market is supposed to be a bunch of serious folk, then make the name be just that.
If the target market is going to be cool and savvy people, then a cool and savvy name is probably your best pick.
4. Check the name availability!
With more and more companies focusing on having a presence in social media, it is absolutely vital to check whether e.g. Twitter, Facebook and the domain name are available.
Here you can also start putting some thought into which social media channels would actually benefit your startup and which would just be time-wasters.
The domain name is probably going to be the biggest weight, because there are only so many options left these days without having to be seriously creative.
5. Have a story behind the name, no matter how out-of-the-box
Because what your startup will need is a personality. Nobody likes a brand with no personality, because if there is no personality, there is nothing there to like.
Okay, but how did Bownty get its name?
Though the process of ending up with the name ‘Bownty’ was anything short from interesting (Since when is naming something interesting anyway? It is bloody hard!)
But one thing was for sure from the very beginning – we didn’t want neither ‘daily’ nor ‘deal’ in the name. So after looking up 20-something domain names that would be available on all social media channels as well, Bownty stood out the most.
There was something very appealing about “hunting” for that best deal – bou(w)nty hunting.
Naah, that’s just trying to seem smart.
We actually picked ‘Bownty’ because we really like Jennifer Aniston in The Bounty Hunter, alright? ;)
Some of the hottest startups picked their name in the most random ways, but they still put a fair share of thought into even coming up with suggestions.
What methods have you used to come up with your startup’s name?
What methods do you think are the most valuable?
Let us know in the comments.
Posted by Kadi
About The Bownty Blog
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