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THIS YEAR'S MOST SUCCESSFUL ONLINE BUSINESS MODEL TO BE LAUNCHED IN AUSTRALIA BY LEADING TECH ENTREPENEURS AND INVESTORS

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(EMAILWIRE.COM, July 16, 2010 )
JumpOnIt.com' style=''>Jump On It, a Sydney based Australian startup, has just received $AU1.3 million in funding from a consortium of investors lead by Roger Allen (Chairman of Allen and Buckeridge, a leading Australian venture capital firm) and Nextec Capital, a boutique wholesale financial services firm.

Jump On It (http://www.JumpOnIt.com) is based on the concept of group-purchasing that has already taken the US

Screen shot of discounted dinner and light show at Fort Denison restaurant, Sydney Harbour

Melbourne fan page

Merchant testimonial - Owner Bistro Lilly restaurant, Sydney, Australia

by storm thanks to sites such as Groupon (already valued at US$1.3 billion). This new web service genre is the most successful Internet business launch since You Tube and a new industry segment estimated to be worth $5 billion per annum in the US alone.

Following a similar format to Group On and its competitors, Jump On It will bring highly discounted exclusive deals on the best things to do, see and buy in major cities of Australia, offering them to consumers as a deal of the day'. Consumers have only 24 hours to secure discounts of up to 90% off restaurants, spas, gyms, outdoor activities and other exciting things to do in their city.

Buyers purchase their coupons individually and when enough people jump on it, the deal is activated and each buyer is then instantly emailed their coupon. Jump On It is to publicly launch in Australia later this month, bringing this exciting online solution to local service businesses and consumers.

The model brings the power of group buying together with local merchants in an online environment that is a win-win for everyone.

This form of collective or group buying guarantees a minimum number of consumers are secured before the highly discounted deal becomes active. For local merchants and business operators, this structure promises to bring a large number of new customers to their business at no risk or upfront cost to them and for consumers who jump on it, one-off bargains at better discounts than available anywhere else.

Jump On It is headed by Australia's leading technology venture capitalist; Roger Allen as Chairman; joined on the board by Peter James, ex-CEO of Adcorp; and an executive team including serial internet entrepreneur Colin Fabig (CEO), James Gilbert (ex-Genis) and ex-Infochoice and founder of Harrow Media Adam Rigby (COO), all whom have invested in the company. Jump On It has the professional backing of some of the best in the online space.

The concept is unique in the Australian market and is set to take the Australian business and marketing communities by storm.

The concept is already being met with eager local businesses and excited consumers. We already have secured a 415,000 online consumer fan base across Australia, says Mr Fabig (CEO of Jump On It).

Australians love their cities and they love a great deal. Jump On It combines the two allowing them to get out and about in the city, have a great time and still come home with a dollar in their pockets.

Brands already on board to take advantage of Jump On It marketing opportunity include the Sheraton, The Observatory Hotel and Guzman y Gomez restaurant. A vast array of award winning restaurants, tourist attractions, spas, experiences and activities have also been signed up.

For Australian businesses, the concept is a no-brainer. They offer their service at a great discount to our captive Jump On It member base at no cost or upfront risk to them and we guarantee to deliver hundreds, if not thousands of new customers without an extra dollar spent on advertising.

Jump On It
Julia Nekich
+61292793330
jnekich@theideassuite.com.au

Source: EmailWire.Com