Ninemsn has sought to increase its stand in the online shopping arena by entering into a deal with ozbuy which will see the technology retailer become one of ninemsn’s 35 merchants at its shopping portal.
Under the deal, ninemsn will enter a long-term distribution relationship with ozbuy and will make an initial equity investment, with the option to take further equity in the technology retailer later.
ninemsn chief executive officer Steve Vamos said the alliance with ozbuy.com is part of the portal’s strategy to expand its range of retail offerings.
“We recognise ozbuy.com’s potential and are looking forward to playing a part in this young company’s future,” he said.
Ozbuy.com founder Michael Glezerson said the site has a number of unique features, including side-by-side product comparison which has seen sales figures double monthly since its launch in October last year.
“We are delighted that ninemsn will be involved in our continued growth,” he said. “It’s a massive deal for us, ninemsn is linked to big chunks of the media, so we will have arms and legs all through the media”.
Glezerson hoped this exposure would enable the company to successfully move into the Asian market, where he said similar models and high-level use of technology appeals to Ozbuy.
“We are well positioned to capture a large slice of the AUS$6 billion (US$3.68 billion) Australian technology industry as well as to move quickly into other categories in local and overseas markets,” Glezerson said.
