Globoforce cracks Chinese market


20 Feb 2006

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An Irish company specialising in internet-based gift certificate incentive solutions for employees has entered one of the world’s fastest growing economies by adding China’s largest online retailer Dangdang.com to its platform.

Established in Dublin in 1999, Globoforce provides on-demand incentive, reward and recognition programmes for Global 2000 companies. The company’s platform enables businesses to offer incentives such as online vouchers for retail purchases as a means of motivating performance-based staff such as sales people.

Funded by Atlas, Benchmark Venture Capital and a number of private investors, Globoforce’s customers include IBM, Reuters, Dow Chemical, Avnet and Safeway.

The company’s gift certificate-driven award model provides participants worldwide with their own choice of rewards and access to thousands of participating merchants in the areas of shopping, travel, sports, hobbies, dining and entertainment. Offering access to literally millions of different possible prize, gift and reward options across all five continents of the globe, Globoforce helps businesses overcome geographical and cultural boundaries, ensuring every programme participant in every country can select a reward that is local and relevant to them.

The deal with Dangdang.com adds to a strong roster of international and local merchants which includes brand names such as Macy’s, The Gap, Borders, Amazon.com and eBay.

Commenting on entering the Chinese market, Globoforce’s chief executive Eric Mosley said: “The addition of Dangdang.com not only expands our rewards selection but also opens up the incentive industry for China.

“Dangdang.com is today doing for China what Amazon.com has done for the US: offering consumers convenient ways to purchase the items they want when they want. As more and more global corporations open and expand operations in foreign locations, the need to implement relevant multicultural incentive programs continues to increase,” Mosley said.

By John Kennedy