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Jumbuck Entertainment has acquired Oztion Pty Ltd, the largest Australian-owned online auction community. Oztion is said to have more than one million unique visitors a month and over a quarter of a million registered trading accounts.
Jumbuck sees the acquisition as complementing its mobile business. “With over 670,000 items for sale, Oztion is the clear challenger to become the biggest online auction website in Australia” said Adrian Risch, CEO of Jumbuck. “With eBay’s recent restrictive changes, many buyers and sellers have been switching to Oztion.”
Snapshot of Oztion integration with Jumbuck:
· Oztion is currently ranked 150th most popular website in Australia (source: Alexa)
· Oztion is on track to generate $1.2 million in revenue for financial year 2008/2009.
· Oztion’s mobile site will be tailored and offered to Australian mobile operators. M:metrics reported recently that US mobile users spent more time browsing Auction sites on their mobile than any other site.
