No Fear for Consumer Electronics Market – DealsDirect Acquires Extrastock

Despite concerns voiced for the local consumer electronics market by some industry heavy-hitters; DealsDirect is powering ahead announcing the acquisition of surplus electronics marketplace, Extrastock.

Although Harvey Norman is downplaying the earning potential of its e-commerce arm, over at the DealsDirect Group it’s all systems go in the consumer electronics and appliance vertical!

Today, Paul Greenberg, DealsDirect Group Executive Chairman, announced the acquisition of Extrastock.com.au, which specialises in in the sale of surplus inventory for major consumer electronic, tool and appliance brands.

“This is an especially exciting deal for me,” says Greenberg. “ Extrastock and its founder, Simon Arnold, were vigorous competitors of ours in our earlier days in the online space.”

Extrastock and Auctionbrokers (an early iteration of DealsDirect) were eBay Australia’s first trading assistants, and in early 2002 the two were amongst the largest eBay sellers in the world by dollar value.

“Simon wanted to take Extrastock to the next level, and believes this is best achieved through a strong partnership with DealsDirect. Similarly, we recognised the brand equity that Extrastock has built over the years, and its very strong alliances with key brands in Australia,” adds Greenberg.

Arnold will join the DealsDirect Group with responsibility for building the Extrastock business further, bringing more tier one brands on board, and expanding the group’s eBay and marketplace presence.

This acquisition comes off the back of a busy time for the DealsDirect Group, with the acquisition of Shoppers Advantage in late 2011 and the launch of BedBuys.com.au in January 2012.

3 Comments

3 thoughts on “No Fear for Consumer Electronics Market – DealsDirect Acquires Extrastock”

  1. Luke says:

    What? This has to be the weirdest acquisition I’ve seen in a while. The site looks like it was built in the early 90’s and the product offering is either 1-2 deep or has no product at all in each category? How is the site worth any money?

  2. Paul Greenberg says:

    Hi Luke, thanks for your insights. To clarify, the majority of Extrastock’s activity is in fact running sales and clearance channels on eBay Australia for corporate clients. They have also run the Kodak Australia website for some years, but of course Kodak’s Chapter 11 status will change that. But agree of course that the Extrastock website is well under par. But that is where the DealsDirect Group comes in. We believe we can add significant value and insights to the Extrastock brand, which will include a full revamp of the existing ” off eBay” offers. As per the original article our big interest is in the number of sizeable brands that Extrastock has relationships with. We will look to build on those by providing more channels and more customers. Once again, appreciate your commentary. Paul – Co Founder DealsDirect Group

  3. justin mcleod says:

    has the extrastock relationships in the electronics segment significantly increased or had an effect in shaping dealsdirect focus in electronics or does the relationship create a better pipeline for deals direct to have access to bulk electronic products from wholesalers.

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