Wonga Future 50: Buyapowa

Groupon’s mind-bending growth has put the spotlight back on deals concepts, and BuyaPowa has an attractive take on the concept. It connects buyers together so they can buy in bulk. For example, four people used the site to buy a VW Polo 1.2 60S 3dr, saving £1,336 each. Ah, you might be saying, didn’t Letsbuyit.com try that in the infancy of the dotcom boom only for it not to work? Well, consumer attitudes have changed, as has the internet. And Buyapowa CEO Gideon Lask (who also created Letsbuyit) has learned a huge amount about the market, including during his time running HMV.com. The timing really does feel right for this concept to take off though, as always, execution will be everything.

Just ask Mumsnet, the terrifyingly active forum for mums. They say: “A huge proportion of our users say they use Mumsnet for impartial advice about the best products and that there’s no better place for it, so it makes complete sense for us to work with BuyaPowa to make sure our members can use their collective muscle to source those products at the very best prices.”

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