Start-up gets Catch of the Day investment just months after launch
Daily deals business Catch Of The Day Group has revealed it is to target the mothering niche with a new site, called Mumgo.com.au, after investing in the two founders of Ladybub, which was launched just a few months ago.
Catch Of The Day has splashed out to take on Dan and Elise Gold, husband-and-wife founders of online startup Ladybub, to head up the new business. The duo were taken on just four weeks after Catch Of The Day became aware of Ladybub, a similar parenting-focused site to Mumgo.
The company said that Mumgo will aim to break into the estimated $20 billion market generated by mothers’ retail spending on their children. Mumgo already has 200,000 people signed up to it via a cross-promotion push across the group's other four sites.
The venture will consist of a lifestyle site aimed at mothers, along with a deals component. The offering will include blog posts and product reviews, with the aim of positioning the site as a source of advice for parents.
“Time limited, heavily discounted deals” will be part of the Mumgo offering, although Catch Of The Day said that this won’t be based on the daily deals model. Rather, the deals will take the form of “branded shopping events” that will run for one to three days.
The site promises savings of 30-70% on recommended retail prices, with launch deals struck with MAC Cosmetics and Lamaze Toys.
Mumgo represents Catch Of The Day’s fifth site, alongside its eponymous daily deals site, fellow group buying offering scoopon.com.au, online supermarket groceryrun.com.au and wine deals site vinomofo.com, which partnered with the group in April.
“With Mumgo we are bringing something new to the Australian retailing space with the only site of its kind that caters to the complete needs of mothers and their families,” says Gabby Leibovich, co-founder of the Catch Of The Day Group, who, along with brother Hezi debuted on the BRW Rich List this year.
“A lot of other sites and big department stores can be overwhelming because there is so much to choose from. Mumgo’s process is more selective. We only choose great products for parents and children and we only feature them on our site if there’s incredible value.”
“The curated deals and community-driven approach of Mumgo are perfectly in tune with today’s financially stressed, time poor and digitally savvy mother who shops online in search of better value, advice and convenience.”
Leibovich later told SmartCompany: "We have been keeping an eye on that space for quite some time and we found that no one is really doing it properly. It’s a very exciting space with a lot of money in it."
"Ladybub was launched and four weeks into the business we spotted them and funnily enough they were doing what we wanted to do and we got in touch. We fell in love with them - they are a husband and wife team."
"With lots of garage businesses in the market place they have a very small chance of growing it."