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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.