Available in English Area served UK | Founded 2012 (2012) Founder(s) Cas Paton | |
Type of site E-commerce, online marketplace Headquarters Bournemouth, Dorset, UK. | ||
OnBuy is a British owned European marketplace, based in the UK similar to Amazon.com and eBay . OnBuy is the trading name of Visor Commerce Ltd, which received a major investment from Centerprise International, a UK IT distribution company, in April 2013.
Contents
The marketplace is stated to allow businesses to sell a wide range of products from IT equipment, toys and games through to arts and crafts, across 36 European countries.
History
Cas Paton is the entrepreneur behind OnBuy. He started his business career in 2006 in the website development industry.
Subsequently Paton funded, invested and took the Managing Director position at OnBuy alongside Razzak, with additional investment from Razzak's company Centerprise International.
OnBuy originally launched in Summer 2013 as a soft launch.
In March 2014 OnBuy was placed "on hold" by Centerprise International, with the website going offline.
On 14 July 2014 OnBuy was acquired by Cas Paton, the original founder, for a six-figure sum.
OnBuy is set to re-launch to market on 7 November 2016 for the UK, and in early 2017 for 36 countries across Europe, USA and Canada.
Subscription Business Model
Unlike other marketplaces OnBuy operates on a subscription business model . The principle theory of the subscription business model is that charging sellers a subscription rather than commission means that sellers can lower the cost of products listed on OnBuy, due to the decrease in cost per sale (compared with marketplaces using a per-sale commission model), making products cheaper for customers while enabling the seller to make more margin.
On the 22nd of December 2016 OnBuy launched a commission based subscription business model for businesses to improve seller sign-up.