Story of iBOOD
“When we wanted to return to our entrepreneurial roots, we chose Walvis to help fulfil our ambitions and establish ourselves as the best premium daily deal online platform.”
Sometimes in business, growing bigger is not necessarily better. Sometimes it’s best to take a step back to your roots and become an entrepreneur again. This is the success story of iBOOD.
What exactly is iBOOD?
iBOOD is an acronym for the internet’s Best Online Offer Daily. It offers premium products for consumers that are only available until the stock is sold out. iBOOD showcases changing daily deals on high quality products from fashion and home electronics to sports, gadgets and home appliances.
“We offer the best brands for the lowest prices found online that day. We modeled our e-commerce site on an American business model that only sells over-stock items. But we decided to offer an intelligent, total solution opportunity.”Jöran Prinssen, CEO and Co-founder of iBOOD
iBOOD handles massive volumes of stock, as well as offers flash sales and lets businesses test their products on their site. This way, their business partners enjoy added value with sales reports and accurate market insights to forecast how well their products will sell.
From humble beginnings to millions of customers
In 2006, entrepreneurs Jöran Prinssen and Dennis Sanders launched their Superdeal a Day ecommerce site from a small attic. From sales to packaging and sending packages, the pair of entrepreneurs managed the entire process themselves. It wasn’t long before iBOOD grew too big for two people to handle, and they began hiring a team to help build their fast-growing ecommerce site.
Growing and changing with the times
In 2016, iBOOD was acquired by Ceconomy AG. Then in 2013, majority shareholder MediaMarktSaturn Retail Group in Germany acquired iBOOD. However, as part of an efficiency program, the companies reviewed their investment portfolios and decided to sell iBOOD in April 2019.
Walvis helped iBOOD take flight on its own
“We saw this sale as an opportunity to stretch our own wings again, as a standalone and once more as an entrepreneur,”Rogier van Egmond, COO iBOOD
“We approached Walvis because they are well-established and focus on innovation and technology,” adds Jöran. Their new strategy as an independent company is to focus on online marketing, instead of helping acquire more customers and products under the MediaMarkt brand.
How Walvis helped iBOOD stand on its own
In August 2019, Walvis and iBOOD management successfully finalized the buyout of iBOOD from MediaMarktSaturn. Now iBOOD is re-aligning its internal focus to be more entrepreneurial in spirit and customer-centric.
Walvis immediately saw that a standalone iBOOD would have strong growth potential. Walvis is helping guide iBOOD to become a leading European state-of-the-art marketing driven e-commerce platform.
iBOOD is on budget for 2019 and will land on a FY19 revenue of EUR 70m, establishing a +20% growth in B2C sales.
Standing alone is an empowering position
Thanks to its partnership with Walvis, iBOOD can refocus on its brand with an entrepreneurial spirit and fulfil its ambitions to establish the best premium daily deal platform.
For Rogier, the new direction is an exciting departure for him. “This is the first time I’ve worked in an entrepreneurial environment,” he says. “We’re still in the game but now the rules have changed, and we can move more quickly as a standalone.” This excitement has trickled across the entire iBOOD team as the whole company is buzzing with new energy and enthusiasm.
Today iBOOD is active in the Netherlands, Belgium, Germany, Poland and Austria. Looking ahead, their next area of focus more on the Benelux market in their full circle journey to success.
iBOOD by the numbers
- Grew top-line revenue by +20%
- Achieve EUR 70m revenue in 2019
- 11x e-commerce website of the year winner
- 200,000 daily visitors
- Active in 5 countries
- 100 FTEs