Groupon has acquired the Bristol-based company of an online discount code platform and brand loyalty provider in a deal worth $65m.
Vouchercloud is a voucher platforms with 55 million annual visits from 11 countries, while digital gift card market Giftcloud is a digital gifting app and website.
Saving people money
Cloud Savings Company director Greg Le Tocq said that over 13 years they have been saving people money from their Bristol bases, starting off in the Tobacco Factory with The Invitation Book, and then moving to West Street in Bedminster where they have launched Vouchercloud in 2010 with a team of three. They are in the hub of the city operating from their office near to Wapping Wharf where they have seen both businesses thrive and their staff members growing to over 100. In joining together, they can create even more, and more effective, ways for customers to save and businesses to grow. They equally look forward to working with Groupon to grow the Giftcloud business.
Groupon chief executive Rich Williams said they are pleased to add two great, profitable brands and very talented teams to the Groupon family. In Vouchercloud, they are acquiring one of the most innovative brands in the online discount codes space, which they believe will accelerate their own efforts – particularly in International – and broaden their marketplace for consumers. In Giftcloud, they see interesting long-term potential in creating attractive customer loyalty programs with some of the biggest names in retail, as well as with great local merchants.