The Australian : Yahoo7 buys daily deal site Spreets for $40m
Thursday, January 20, 2011 at 10:35PM The Yahoo7 transaction means that most of the country's biggest media companies have now backed deal-a-day websites, with global giant Groupon expected to ramp its local presence in the coming weeks.
Nine Entertainment launched Cudo in September; News Limited and Ten Network Holdings have backed Our Deal; Telstra has Yellow Pages Offers; and Fairfax promotes Spreets on its newspaper websites.
"There should be some consolidation now," said one senior media executive. "Australia is quite a fragmented market."
The top six players -- Cudo, Spreets, Jump On It, Living Social, Scoopon and Our Deal -- account for 90 per cent of web traffic according to Nielsen. Spreets has the largest membership base with 500,000 users followed by Cudo with more than 300,000. There are also smaller players, including Catch Of The Day, eRoo and Ouffer.
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