Spreets, a group buying site has launched, offering big discounts of the day, but only if enough people sign up to the deal on offer.
The site, a joint venture between Booking Angel Founder Dean McEvoy and Startup Garage Pollenizer, is modelled on Groupon, a site which has had a lot of press and traction in the US (and that is now valued at $250M based on it’s last funding round).
The main difference here is that Spreets is 100% Australian focused so deals will all be centred around local Australian cities, starting with the Sydney site, which is currently up.
The way Spreets works is quite simple. Each day they feature a deal that people can sign up for. The catch is that only when a quota of registrations for the deal is met does everybody get the deal.
As someone who has been selling to small businesses for years, co-founder McEvoy instantly saw the value in the Groupon model and decided to launch a local competitor:
“I had been over in the US most of last year and came across Groupon. I saw and knew from my experience selling Booking Angel to small business how this model appeals to both the consumer (they get a deal), the business (they get an instant response for marketing efforts) and has that magic virality that really successful sites need. I knew this would be a killer business model in local and wasnt suprised when in a few months Groupon was hitting $100million in reported revenue I had to do it in Australia. Pollenizer were just as keen.”
Once the teams got together it was all engines go on the project to make sure they got to market as quickly as possible
The project took just 32 days from start to finish, albeit, as McEvoy explains “with Pollenizers best team and ours, not just tech and design, but sales, marketing ,editorial and operations”
As far as future plans go, the ideas is to start with Sydney, then expand.
“Spreets is relevant first to Sydney, of course other parts of Australia will come. We are focussed on building a really good experience for Sydney siders first and then growing quickly.” said McEvoy.
If pedigree and potential are anything to go by, this is definitely one to watch.