August 10, 2018
Global sales, manufacturing company eBuyNow plans IPO
VICTORIA--eBuyNow eCommerce Ltd, a Canadian global sales, R&D, marketing and branding company with seven years of deep experience in developing a full range of Internet Of Things (IoT) connected consumer electronics products, is planning an IPO, the firm announced.
The company is currently generating sales direct to online consumers in 29 countries, 19 global marketplaces and has distribution partnerships with bricks and mortar retailers in 24 countries. In Q3 eBuyNow will ship the first 8 connected products of 30 currently finishing development under the Kodak and Motorola brands.
Due to Canada's high quality R&D skilled labour market as well as favourable SR&ED incentives, eBuyNow established their global Head Office in Canada in 2011. The eBuyNow executive team have since directed the leadership, R&D and sales of over 30 connected products with companies such as Skype, Samsung, Sony, GE, Sharp, Toshiba, Panasonic and Motorola. In the last 7 years eBuyNow has been directly responsible for the development of over 3 million sold connected devices.
Following the years of experience garnered around the development and global sales of connected devices the eBuyNow executive team has carefully planned for the release of a series of best in class Smart Home, Connected Baby, Smart Security, Smartwatch and Smart Living Air Purifier product lines under direct license agreements with globally recognized brand names such as Kodak and Motorola.
The release of the smart series of connected products is the beginning of a long term brand strategy of working together with the most respected global manufacturers in their field together with the best and most category relevant globally recognized licensing brands for sale through eBuyNow's existing comprehensive sales channel of online direct, marketplaces and bricks and mortar distribution channels in 29 countries today.
eBuyNow is headquartered in Canada with fully owned subsidiaries managing the import, sales and taxation of products in The United States, The United Kingdom, Taiwan, Mexico & India, and is proudly listed on 19 of the most influential global eCommerce marketplaces, such as Amazon, FlipKart, JD, Fnac, Lazada, WalMart and MercadoLibre.
The product development and market readiness is fully completed for the initial 8 of the 30 products planned for 2018-2019 release.
eBuynow is now executing a multi-million dollar fundraise to increase the business capability to promote the products through targeted marketing and further the brand licensing acquisition strategy which will accelerate product launches and consumer awareness.
Craig Smith, the company's CEO, said that initial reaction from the market has been quite overwhelming as well as humbling. A good portion of the feedback was from investors eager at promoting a Canadian company with a strong global export strategy.
Most investors are not used to strategies from companies in the early investment stage taking such a comprehensive view on global retail and branding which has garnered a positive reception from investors who want to see Canadian enginuity and business as part of a strong export strategy in the consumer electronics business. Victoria BC has garnered a world class development community and British Columbia in general could certainly get behind a strong candidate in this space to profile BC's capability in R&D and engineering. For the last 5 years the BDC, EDC and CRA have been fully supporting the development of the IoT platform and marketing review platform that powers the core IP in the business, it is now ready to go to the investment community to power the global launch and marketing.
"The whole team have been working very hard to get this stage where eBuyNow Canada can bring well known branded connected products to a global audience. We fully believe, with what we have learnt in the last 7 years, that our products are best in class and provide true feature and brand value over our competitors in this space. We all are looking forward to 2019 being our breakout year and expect to see growth of at least 20x in 2019. With the amazing brand support we are seeing from our partners like Kodak and Motorola as well as unparalleled assistance from leading manufacturers responsible for producing some of the most well know and best selling products in the market today such as Fitbit, Garmin and Samsung we know we are in great shape to make eBuyNow a dominant leader in connected products." Smith said.