People everywhere have lately felt an increasing downward pressure on spending because of the global economic crisis. People still want to enjoy themselves and discover new experiences locally, but are looking for opportunities to save money while keeping shopping social. The founders of GoNabit recognize that saving is best done socially, and that the Internet is long-overdue as a means for buying and saving in the Middle East. The experienced team behind GoNabit is pioneering group-buying and social commerce in the Middle East by launching GoNabit.com – the first group-buying platform in the Middle East.
“The time is right for residents of the Middle East to enjoy the benefits of e-commerce people. We created GoNabit.com to be a pioneering, safe, secure, online group-buying platform for the region that helps people come together and save and discover locally,” said Dan Stuart, founder and CEO of GoNabit. “With GoNabit.com, we’re proud to be first in the region bringing the benefits of e-commerce while keeping shopping social, migrating people from online savings to offline social experiences, and helping people increase their savings through collective buying power.”
Each day GoNabit features one huge deal per city. People sign-up online to receive the deals, and if they wish to participate in the deal they do so using their credit card. Once the minimum number of buyers is reached the deal ‘tips’, the credit card gets charged, and GoNabit sends the buyer their voucher. Buyers then print their voucher and redeem it with the local merchant. If the minimum number of buys is not reached before the deal closes, no one is charged – but no one gets the deal either. “This need for critical mass allows us to negotiate great deals, while the platform’s in-built social tools, and the need to spread the word to make sure the deal tips is what makes the experience on GoNabit unique,” said Stuart.
“Merchants love the model because they are investing only in the people that have made a financial commitment to trying them out. Merchants define their criteria for success for the campaign knowing that unless we hit those criteria they are not charged anything, ensuring them a risk-free marketing proposition; that is the key to assured marketing,” said Stuart. “We are facilitating customer interactions and social buying participation in ways that drive measurable business results. For local businesses, it’s not only about creating buzz. We’re moving the word-of-mouth needle from buzz to buy.”
GoNabit is backed by initial funding led by Bayt.com, making Bayt.com majority owner and at the same time enabling GoNabit to leverage the well-established regional scale, local knowledge, and experience of the Bayt.com platform and leadership. “The Bayt.com investment is key for us,” said Stuart. “Talk about a serious kick-start to GoNabit: we’ve got fantastic support to launch a great online business from an organization that has done it successfully and with longevity.”
GoNabit is launching in Dubai in May, and soon in Abu Dhabi with plans to offer deals in ten regional cities before year-end. Buyers can sign-up to receive the daily Nabit email for their city at GoNabit.com, and local businesses interested in being featured can get more information on the website.
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About GoNabit
The experienced team behind GoNabit is pioneering group-buying and social commerce in the Middle East by launching GoNabit.com – the first group-buying platform in the Middle East. Every day GoNabit features a cool new deal - or Nabit – at 50-90% off on great things to see, eat and do locally. GoNabit was founded in 2010 by Dan Stuart and Sohrab Jahanbani. Dan was previously Chief Possibility Officer at Bayt.com and the Director of Intilaq, Bayt’s corporate venture capital arm. Sohrab has been involved in startups for over a decade. Most recently he launched a WiMAX network in Jordan as co-founder and Chief Commercial Officer of Kulacom Broadband Investment Company. Every day GoNabit features a cool new deal - or Nabit – at 50-90% off on great things to see, eat and do locally. GoNabit is firmly-committed to bringing opportunities to save and discover locally to the Middle East through the ease, choice, opportunity and empowerment of e-commerce, while keeping the experience social to reflect the values and traditions in the region. GoNabit is launching in Dubai in May and soon thereafter in Abu Dhabi, with plans to offer deals in ten regional cities before year-end. With their risk-free, efficient, effective and measureable local marketing platform, GoNabit is the leading choice for local businesses looking to create new customers.
