In the last year, Treasure Global Inc. generated $14 million in revenue and had a net loss of $7.9 million. The company has a market-cap of $82.1 million.
EF Hutton acted as the underwriter for the IPO.
Treasure Global Inc. provided the following description of their company for its IPO: “Our mission is to bring together the worlds of online e-commerce and offline physical retailers, widening consumer choice and rewarding loyalty, while sustaining and enhancing our earning potential. We have created an innovative online-to-offline (“O2O”) e-commerce platform business model offering consumers and merchants instant rebates and affiliate cashback programs, while providing a seamless e-payment solution with rebates in both e-commerce (i.e., online) and physical retailers/merchant (i.e., offline) settings. Our proprietary product is an internet application, branded “ZCITY App,” which was successfully launched in Malaysia in June 2020. We have the know-how and expertise to develop additional/add-on technology-based products and services to complement the ZCITY App, thereby growing its reach and user base. As of March 22, 2022, we had over 1,.1 million registered users and over 1,900 registered merchants. The ZCITY App targets consumers by providing personalized deals based on consumers’ purchase history, location and preferences. Our technology platform allows us to identify the spending trends of our customers (the when, where, why, and how much). We are able to offer these personalized deals through the application of our proprietary artificial intelligence (or “AI”) technology that scours the available database to identify and create opportunities to extrapolate the greatest value from the data, analyze consumer behavior and roll out attractive rewards-based campaigns for targeted audiences. We believe this AI technology is currently a unique market differentiator for the ZCITY App. We have branded our ZCITY App with the hashtag: “#RewardsOnRewards”. We believe this branding demonstrates to users the ability to spend ZCITY App-based Reward Points (or “RP”) and “ZCITY Cash Vouchers” with discount benefits at checkout. Additionally, users can use RP while they earn rewards from selected e-Wallet or other payment methods. ZCITY App users do not require any on-going credit top-up or need to provide a bank card number with their binding obligations. We have partnered with Malaysia’s leading payment gateway, IPAY88, for secure and convenient transactions. Users can use our secure platform and enjoy cashless shopping experiences with rebates when they shop with e-commerce and retail merchants through trusted and leading e-wallet providers such as Touch’n Go eWallet, Boost eWallet, GrabPay eWallet and credit card/online banking like the “FPX” (the Malaysian Financial Process Exchange) as well as more traditional providers such as Visa and Mastercard. “.
Treasure Global Inc. was founded in 2017 and has 48 employees. The company is located at 276 5th Avenue, Suite 704 #739 New York, New York 10001 and can be reached via phone at +6012 643 7688.
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