The Commonwealth Bank of Australia (ASX: CBA) share price has travelled upwards since COVID. Will CBA’s latest investment push up the CBA share price?
Competiton with the other big banks like Australia and New Zealand Banking Group Ltd (ASX: ANZ), National Australia Bank Ltd. (ASX: NAB) and Westpac Banking Corp
(ASX: WBC) is relentless.
So, it’s no wonder that CBA is looking to start-ups to differentiate itself from the crowd.
CBA share price
Little Birdie investment
CBA has invested $30 million in local e-commerce start-up, Little Birdie.
This venture was started by Catch Group founders, Gabby and Hezi Leibovich last December and is now led by co-founder, Jon Beros.
The Leibovichs holds a 10% interest in the venture.
Little Birdie is building a homepage for online shoppers using AI technology and online user community voting functionality, promoting the best deals available.
The Australian Financial Review
reports Little Birdie has already more than 1,000 retailers signed up.
What’s in it for CBA?
Little Bird is aiming to become the biggest homepage for shopping around the world, helping retailers gain high traffic.
Should Little Bird achieve this lofty goal, CBA could become a significant beneficiary. How so?
Little Bird will be leveraging CBA’s customer engagement engine, enabling it to provide CBA customers with exclusive offers based on their spending habits.
Over the long term, people may be swayed to switch over to CBA for the best possible deals on the Little Bird homepage.
Whilst technology and innovation play a vital role in shaping CBA’s future, it’s also important to consider what it’s worth.
