iBuy Raises Fund to Acquire 4 eCommerce Websites

Dec 23, 2013 (Mon): iBuy Group Ltd, an online flash sales operator incorporated by entrepreneurs Patrick Grove and Lucas Elliott is listed on the Australian Securities Exchange (ASX) after raising AUD37 million in a public offer of new shares, Herald Sun News reports.

According to Business Spectator, iBuy will spend AUD31.5 million of the fund raised to acquire four ecommerce websites which are BeeCrazy.hk (Hong Kong), Deal.com.sg (Singapore), MyDeal.com.my (Malaysia) and Dealmates.com.my (Malaysia).