FSB’s Marketplace will enable their members to buy and sell online and showcase UK smaller business’ goods and services around the world
August 24, 2016: cloudBuy plc, the global provider of cloud-based ecommerce marketplaces and B2B buyer and supplier solutions, is pleased to announce that it has signed a contract with FSB to deliver a new online marketplace for FSB members. The FSB marketplace will enable its 170,000 members to trade with each other securely and cost effectively as well as allow both consumer and business buyers to buy goods and services directly from FSB’s trusted member network. The FSB marketplace will also act as a showcase for the goods and services of innovative smaller businesses to larger organisations and overseas buyers.
The contract is for a 5 year period with revenue comprising a mix of implementation, SaaS licence, support and hosting and a share of transaction revenue. Although it is expected that there will be some contribution of revenues in the current financial year, this contract win is not expected to change market expectations.
The FSB marketplace will be configured and customised during 2016 followed by FSB member on boarding. There will be no registration or subscription fees for FSB members to join the marketplace and list their products and services. There will be a very competitive fee per transaction making it a genuine “pay as you earn” online sales portal for FSB members. The launch of the FSB marketplace is planned for early 2017.
Dave Stallon, Commercial Director, FSB said, “The new FSB marketplace will provide a significant added benefit to members. The marketplace will not only support B2C product sales but also enquiries, booking and payment for services and complex B2B transactions. Connecting members to trade online will provide advantages for both the buyers and suppliers, reducing transaction costs, increasing order accuracy, and improving customer satisfaction. The FSB marketplace also has the potential to act as a global shop window for leading-edge products and services from the UK.”
Lyn Duncan cloudBuy CEO said “cloudBuy is really excited to be working with FSB on this initiative. The FSB marketplace will provide UK smaller businesses increased opportunities to buy and sell their goods and services online which might not have been affordable for them before. Members will also have the option to take a full cloudBuy ecommerce website and will find it easy to connect to other cloudBuy sector-specific marketplaces where appropriate. cloudBuy brings a wealth of experience to this endeavour following emarketplace projects in India and South East Asia.”
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For further information, please contact:
David Gibbon, CFO
Tel: 0118 963 7000
Arden Partners plc - NOMAD and Broker
James Felix / Patrick Caulfield
Tel: 0207 614 5900
Josh Royston / Hilary Buchanan
Tel: 0208 004 4218
About cloudBuy plc
cloudBuy, (AIM: CBUY), provides cloud solutions for buyers and sellers – and brings them together to trade securely and ethically via an increasing number of public emarketplaces and private purchasing portals around the world, powered by cloudBuy technology. cloudBuy solutions for buyers help B2B purchasers understand and control their spend, to reduce costs and increase value. Our cloudSell solutions enable sellers of all sizes, from startups to corporates, reach new customers and grow their business.
cloudBuy’s technology platform powers web sites, public marketplaces and private purchasing portals that enable all types of online interactions and relationships including, citizen and business to government; consumer to business; and business to business.
For more information, visit: www.cloudbuy.com .
As experts in business, FSB offers members a wide range of vital business services, including advice, financial expertise, support and a powerful voice in Government. Its aim is to help smaller businesses achieve their ambitions.
For more information, visit: www.fsb.org.uk