Business Daily Media

The Times Real Estate

.

Aumake active users surpass 20,000

  • Written by Trading Update


Aumake Limited (ASX: AUK, Aumake, or the Company), operator of an online platform  that connects Asian influencers with high-quality and authentic Australian brands, is pleased to provide a  trading update on active users and Gross Merchandise Value (GMV).  

Trading Update  

Since the launch of the first stage of its social e-commerce marketplace in October 2020:  o Registered active users have grown to more than 20,000  

o 85% of active users have mainland China registration details with 63% of users making repeat  purchases  

o GMV of $3.5m, increasing from $1.9m reported on 23 Dec 2020 despite seasonally quiet  period in the lead up to Chinese New Year  

o Company is well funded for growth with $9.0m cash at bank (plus a further $0.895m pending  shareholder approval for tranche 2)  

Executive Chairman, Mr Keong Chan said:  

“We are extremely encouraged by the active user growth and GMV momentum leading up to the Chinese New  Year holiday, which is traditionally a quieter period for retail. The Company continues to observe strong  registration uptake from mainland China, demonstrating active user growth via Asian influencer social  networks.  

“Leveraging social networks provides us with a significant advantage to our competitors in Australia, and we  are increasingly tailoring our brand and product offering to appeal to younger Asian consumers. We believe  our social e-commerce marketplace, which taps into the latest Chinese consumer trends such as group-buying,  has the potential to change the way Australian brands connect and sell to Asian consumers.  

“Since our successful capital raise in late December, we have been extremely active with the realignment of  our entire operational team towards the new online business model, including a reduction in non-core labour  expenditure and ongoing focus on the divestment of physical stores.  

“We are singularly focused on identifying and implementing organic and inorganic initiatives to grow our scale  as fast as possible using social network virality to generate network effect.  

“Aumake looks forward to updating the market with further developments.”  

Cutting edge AI technology designed for doctors to reduce patient wait times launched in NZ

New Zealand specialist doctors now have access to Artificial Intelligence technology to help reduce patient wait times and experts say it could be...

Launchd Takes Off: Former AFL Stars Lead Tech-Powered Platform Set to Disrupt Talent and Influencer Marketing

Backed by Institutional Capital, Launchd Combines Five Leading Agencies and Smart Technology to Deliver Measurable Results Influencer marketing i...

Meet the Australian fintech unlocking rewards for small businesses

Small businesses make up 98 per cent of all businesses in Australia, yet they continue to bear the brunt of economic uncertainty. According to Credi...

Teleperformance (TP) Business Insights Report Reveals Key Shifts in Consumer Behaviour

TP’s Business Insights report  into consumer behaviors and preferences, taking in more than 57,000 respondents across 19 sectors, is shedding new li...

HubSpot launches platform-wide AI tools to help businesses close the adoption gap

HubSpot today unveiled more than 200 updates across its customer platform to help businesses grow better. The release introduces smarter tools, new AI...

Why Every Leader Needs a Personal Branding Strategy in 2025

One of the best investments you can make in 2025? Your Personal Brand.In today’s competitive and digitally driven business world, authenticity and...

Sell by LayBy