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Classified in: Science and technology, Business
Subjects: PER, PLW

PowerBuy Awarded US Patent 10,929,873 for Their Group Buying and Social Ecommerce Gamification Concept, Acquires Two New Advisory Board Members

IRVINE, Calif., Feb. 24, 2021 /PRNewswire/ -- On Feb. 23, 2021, the US Patent and Trademark Office issued US Patent 10,929,873 to PowerBuy for their group buying and social eCommerce gamification concept. The issued patent, based on the original application filed in March 2016 will help protect and solidify the group buying and social eCommerce gamification concept in the US.

PowerBuy, a SCaaS (Social Commerce as a Service) venture is continuing to lead the charge in group buying and eCommerce gamification in the US, similar to Pinduoduo in China.

PowerBuy is continuing to help Merchants achieve strong metrics with an 8% conversion rate, 38% cart abandonment rate, and reducing their customer acquisition costs by introducing eight new customers for every product enabled with PowerBuy.

Additionally, PowerBuy has also brought on two new members to their advisory board joining David Mason, Seth Demsey and Jayme Hoffman

One of their key members is Sandy Permadi, the Chief Financial Officer of JD Indonesia (the Indonesian unit of Chinese ecommerce giant JD.com). He is a financial executive with broad experience in all aspects of accounting, auditing, and financial management. He has spent 10+ years leading multinational companies from automotive, advertising, jewelry, and E-commerce industries. 

Sandy is a hands-on leader combining financial expertise, commercial outlook, strategic mindset, and a passion for results.

PowerBuy is energized by these new developments and looks toward a bright future of paradigm-shifting growth in social commerce. PowerBuy will also be welcoming strategic partners that would like to join them in disrupting the eCommerce industry with PowerBuy - a new approach to social shopping

About PowerBuy

PowerBuy's mission is to build a strong community of like-minded Merchants and Shoppers that love Social and eCommerce. PowerBuy provides a fun and social shopping experience for the Shoppers and a cost-effective, alternative approach for Merchants that helps them reach new shoppers and grow their sales. PowerBuy was founded and is led by veterans in the eCommerce, marketplace, and SaaS industries.

To learn more about PowerBuy, visit https://powerbuy.app/corporate-site

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