NEW YORK, March 1, 2011 /PRNewswire/ -- 1SaleADay.com, home to the largest independently owned daily deal website, today announced its new partnership with Optima Ventures, a leading global investment group. Optima Venture's capital investment will enable the company to continue to fulfill its 1.5 million customers' ever-growing appetite for their daily deal offers. With the new funding, 1SaleADay plans to take deal-a-day shopping to new heights by offering even more aggressive prices, more desirable brands and improved infrastructure.
1SaleADay offers one daily deal in five categories, selling each for 75 to 95 percent off retail prices. They sell more of one item in a single day than other major e-tailers who often sell thousands of SKUs, resulting in outstanding relationships with the world's leading electronics, watches, home goods and jewelry manufacturers. 1SaleADay's immense buying power, coupled with its reputation for passing along the savings to the consumer, results in more than 400,000 visits every day.
"Thanks to our loyal customers, 1SaleADay.com has experienced phenomenal growth over the past year—gross revenue and profits have both tripled," said Ben Federman, founder and CEO of 1SaleADay. "Clearly we're no longer the best-kept secret on the web. This capital infusion will enable us to maintain the momentum we have and to move into our next phase of growth."
"1SaleADay.com has become an Internet sensation and current run rates peg the value of 1SaleADay to top $300 million in the next 1 to 2 years," said Uri Laber, CEO of Optima Ventures. "This investment should send that trajectory into the $700-$800 million range. We're excited to invest in 1SaleADay, Ben and his excellent portfolio of companies, as they transform the way people shop for deals online."
Federman said the company plans to invest in their customers by committing the bulk of the investment into strengthening its buying power and streamlining its infrastructure. With bigger buying power and improved service, Federman said, customers and loyal fans can expect to see many exciting positive changes coming their way.
These improvements will reflect on operations across the entire 1SaleADay family of online deal sites, including:
- Shadora.com that offers up to 95 percent off retail on genuine, high-quality gold, silver, diamond and gemstone jewelry,
- BensOutlet.com overstock deal portal offering steep discounts on a wide range of electronics,
- DynamiteTime.com, home of the best deals on brand-name watches, and
- GlassesUnlimited.com that offers prescription glasses with designer frames for as low as $9.99.
Federman explains why he chose Optima over venture capitalists that approached him: "The Optima team shares our commitment to investing in our customers by always having the lowest price online," Federman said. "Beyond that, Uri and I come from similar middle-class Milwaukee homes, and understand, first-hand, the consumer's ever-growing demand for affordable products. We also share common values regarding philanthropy and giving back to our communities."
Federman and Optima E-Commerce have launched a new parent company, Octagon Commerce, to bring all five of Federman's online deal sites and all new joint social media and e-commerce ventures together under one umbrella.
For more information and to check out today's Deal of the Day, visit www.1SaleADay.com.
1SaleADay.com offers the deepest discounts online, with a new deal posted every day at 12 midnight ET. With Deals of the Day in five categories, including Electronics, Wireless, Watch, Family and Jewelry, 1SaleADay leverages its global buying power to offer discounts up to 95% off retail prices. Headquartered in New York, 1SaleADay.com is part of a family of discount retailers that includes BensOutlet.com, Shadora.com, DynamiteTime.com and GlassesUnlimited.com. 1SaleADay.com is Better Business Bureau accredited with an "A" rating. For more information, visit, www.1SaleADay.com.
About Optima Ventures
Optima Ventures is affiliated with Optima International of Miami, the U.S. arm of a private, global operation involved with oil, gas, telecommunications and manufacturing in Eastern Europe. Under the name Optima E-Commerce, the deep-pocketed investor now ventures along with Ben Federman into the online world, with the launch of Octagon Commerce, which now owns 1SaleADay.com and its subsidiaries.