GrabOne finds new buyer, relaunches after liquidation
Tuesday, 3 March 2026
Vouchers and deals discount website GrabOne is relaunching, after securing a new buyer to push it into the modern age.
Wellington-based digital marketing company Paradigm Group acquired the website and brand assets for an undisclosed sum in January, and on Tuesday relaunched the platform with 30 businesses on board.
It plans to grow that to around 1000 while returning the platform to its former glory as a “discovery marketplace”.
Paradigm Group chief executive Jonty Hodge said the group hoped to see the website return to its heyday as a locally-owned platform that connected Kiwis to local businesses across the country.
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Once making upwards of $100 million in sales with 1000 businesses using the site, Hodge said GrabOne was aiming to win back business, and launch new offerings to reach its revenue targets.
He said the platform was once an “important marketing tool” for businesses, which it hoped to once again become.
“We realised that GrabOne was still an important part of the e-commerce landscape for merchants and businesses and customers as well.
“About 350,000 Kiwis were still using the platform, and we know that it served an important purpose, like a growth partner for businesses, to help them acquire customers, as well as optimise inventory to bump up sales,” Hodge told The Post of the decision to acquire the business, after it was placed into liquidation in October.
The Kiwi-founded platform was acquired by Australian company Click Frenzy in 2021. The company has since entered into liquidation.
Prior to the sale to Paradigm, GrabOne owed creditors more than $16m. Paradigm would not comment on whether the former creditors had been paid with proceeds from the sale. The Post has put the question to the liquidator.
New owners have hired Paul Raeburn as head of GrabOne, one of the platform’s original employees, along with others, to rebuild the business - a team of about 15 people, including former GrabOne employees.
Hodge said some businesses had earned up to $6m on the platform in the past, proving the business case to bring it back.
Following the acquisition, the pair had worked to change the operating model of GrabOne in order for it to be viable, and return it to its former glory, when it had thousands of businesses on the platform and sales between $90-$100m.
“We’re trying to understanding what the [present day] requirements are, and how we look after merchants … looking at the core of the business model and turn GrabOne into more of a discovery marketplace.
“We want to make sure the deals and offers we put on the table are right for the businesses, and they get good value out of it, as well as the customer. It's definitely a balancing act.”
He said over the past five to seven years the platform had lost its way, focused heavily on selling products as opposed to experiences.
It would now focus on “experiences and escapes” such as dining, food and beverage, activities and accommodation. An offering as a combination and similar to the likes of First Table and Book Me.
Hodges said GrabOne formerly had a product similar to First Table, whereby customers could book dining slots, through a system called Instant Book - which it planned to bring back.
He said they were putting products back on pause because there was no point competing with “the Temus of the world” by trying to sell items like phone cables. He added that they would build out a different strategy for the product side in the years to come.
“We're also looking towards the future, around not just customer acquisition for businesses, but also setting up a potential loyalty programme. I've got a few few other things that we're looking at on the horizon, on the product and offering.”
Conrad Banks, general manager of Dockside Restaurant and Bar in Wellington, said the relaunch of the business was welcome news, and had become an important revenue stream for the venue.
“Losing GrabOne was a real hit to our business because it was one of our most effective ways to reach new people and keep things busy. We made over $6m in sales from GrabOne, reaching tens of thousands of customers via the platform.
“In this economy, you can't afford to have empty seats or quiet days, so we’re looking forward to having GrabOne back with a fresh start,” to help the business grow through “turning first-time visitors into regulars”.
Under previous ownership, many merchants found the operating model - namely the payment process - of the business frustrating, making sales and taking payment from customers, but not paying merchants until the customer had redeemed the voucher.
Hodge said that was no longer how the business would operate.
However, he was unable to disclose what cut of sales GrabOne would take, saying it would be different for each merchant, depending on a range of factors, including the category and sales volumes.
“We've overhauled the whole payments process and payments platform. We've partnered with Stripe to be able to deliver more modern payment solutions, which means that merchants or businesses will get the money quicker. There's a far greater deal of transparency.”