Melbourne based internet startup Stateless Systems has sold its RetailMeNot site to emerging US online media player WhaleShark Media for an amount close to $90 million.
RetailMeNot was founded in 2003 and pulled in over 90 million unique visitors globally over the past year. RetailMeNot allows users to find and share discount shopping coupons, deals and tips at some 70,000 stores around the globe. RetailMeNot itself will make close to $30 million this year in revenue.
The ‘deals’ space is currently developing extremely fast, with companies like Groupon expanding their revenues rapidly internationally. Groupon clones have been started in other continents and even in the US, there are a lot of startups in the same industry. The industry is expected to witness a lot more startups next year.
isn't groupon itself a brand? I am a bit confused, I mean Groupon is not a business model or strategy, it's a company. Just because it's written the Groupon of Australia…
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