Hong Kong Startup AfterShip Attracts International Investment

21 June 2012 - For immediate release: Hong Kong-based startup AfterShip has secured equity investment from the Australian company Business Switch.

AfterShip (www.AfterShip.com) is a ‘hot’ Internet-based business that provides easy-to-use package tracking for online retailers and online customers. The company has won numerous awards for its business, including the prestigious Seattle-founded 2011 Global Startup Battle.

With AfterShip’s service, online stores can view the delivery status of all of their customer packages in one place. The software automatically notifies customers via SMS and email at critical times during the delivery process.

Although the company only launched its web application 16 weeks ago, it has already sent more than 67,000 delivery notifications to customers and is experiencing over 42% growth week on week.

Business Switch’s investment is for a 5% equity interest in AfterShip for an undisclosed cash sum. The specific financial terms of the investment have not been made public.

The Australian investment funds will be used to improve and scale the current application across more shopping cart platforms (currently the system supports eBay, Amazon, Shopify, Magento and Spree) and also to build international market share.

Matthew Abrahams, Managing Director at Business Switch said:

“We met dozens of companies seeking investment from Singapore, Hong Kong, Beijing and Tokyo during recent visits to the region and AfterShip was a clear stand out”.

“They have a great online product, management team and strategy. We love that AfterShip solves a big post-sale problem for online retailers - managing delivery expectations of customers.

“Investment in this Hong Kong start up made absolute sense to us.”

Teddy Chan, CEO and Co-Founder of AfterShip said:

“We welcome Business Switch as founding investors in our business. From the moment we met Business Switch at Demo Asia 2012 (www.demo.asia/2012/) it was clear they understood our value equation to online retailers and their customers.”

“It is an exciting time for our business and the support offered by Business Switch is greatly valued.”

About AfterShip (www.aftership.com, @aftership)

AfterShip is the world’s most advanced package tracking application for online merchants and online customers. The service allows online retailers to see the delivery status of all their packages in one place and send out delivery notifications through email and SMS when a package is in transit, out for delivery, delivered or has any other delivery status.

AfterShip Integrates with various shopping cart solutions (eBay, Amazon, Shopify, Magento, Spree) and supports all major couriers worldwide (full list - http://blog.aftership.com/usps-tracking-ups-tracking-fedex-tracking-dhl-tracking).

AfterShip is the winner of the 2011 Global Startup Battle and also 2011 Hong Kong Startup Weekend Winner. In 2012 the company has presented at Demo Asia in Singapore as well as Launch Conference in Silicon Valley.

For more information, visit www.aftership.com or view AfterShip’s video at http://youtu.be/DMZcVwy2K4s.

About Business Switch (www.business-switch.com.au)

Business Switch is an entrepreneurial Australian company focused on innovating and investing in the ‘business to business’ online space. The company owns and operates Australia's leading online business registration service (www.BusinessRegistration.com.au), Australia's number one forum website for entrepreneurs (www.AussieTycoon.com), as well as niche online business services in Australia and internationally across finance, ICT, informational products and directory services.

Further information www.Business-Switch.com.au

Contact

For AfterShip:

Andrew Chan, CMO and Co-founder

+852 6080 3218 / andrew@aftership.com

For Business Switch:

Matthew Abrahams, MD (via Cassandra Wilson, Executive Assistant)

+61 2 9089 8817 / cassandra.wilson@Business-switch.com.au

Andrew Chan

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