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cloudBuy heartened by reception at Middle East and Asia Pacific trade shows

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The cloudBuy (LON:CBUY) team has finished its promotional tour of the Middle East and Asia Pacific, having drummed up significant interest in its platform.

The e-commerce marketplace operator had recently bagged contracts in Australia, India and Hong Kong and so the team packed their bags and headed east to strike while the proverbial sales lead iron was hot.

The events, which were run in conjunction with government body, the UKTI, positioned cloudBuy as a potential market leader in the following areas: Emirates, India, Singapore, Australia, New Zealand and Hong Kong.

The focus of the events was on prospects with large numbers of transactions and suppliers. The opportunities give access to an additional 20,000 suppliers and up to US$2bn of transactional revenue for which the company has agreed transaction fees ranging from 2%- 5%, cloudBuy said.

"We have had genuine interest in the different geographies and all of the delegates and prospects that I have met with are facing similar challenges," said Ronald Duncan, chairman of cloudBuy.

"There is real appetite for technology and especially in India and the Middle East the speed of market development is tangible, with a sense of excitement that the West hasn't felt since the dot.com boom. This trip has confirmed for me the opportunity available to the company; we have appropriate mature technology and the potential to become a major player in these emerging markets," Duncan added.

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