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Expect more Groupon clones as news spreads of the upcoming Groupon IPO
If you thought the Groupon clones were out of hand before, I’m sure the mention of Groupon’s $30 billion IPO has perked up a few more ears. “Thirty billion, you say? As a matter of fact, I have a few deals I’ve been hanging onto for a rainy day…”
Today, Intertainment Media, a rich media applications company with offices in New York, Los Angeles, San Mateo, and Toronto, announced that it has agreed to acquire DealFrenzy.com, a Groupon-style collective buying site. Intertainment is buying the company for $500,000 in cash and $200,000 in Intertainment common stock. The deal is expected to close later this month.
DealFrenzy.com is scheduled to go live in July, and given Groupon’s upcoming IPO, Intertainment is expecting some big returns from their new little Groupon clone. Among the large national and multi-national brands that DealFrenzy is working with are Yogen Fruz, Yogurty's, Things Engraved, Jamba Juice Canada, and more, and Intertainment’s announcement remarks: “Over the past year, Groupon sold in excess of $4 Million with these partner programs.”
Under the terms of the deal, Intertainment will acquire all of DealFrenzy’s technology, its deal pipeline, its preferred deals with major brands, and the company’s sales and support team. DealFrenzy will be launching in select cities in 2011, but Intertainment’s overarching goal for DealFrenzy involves integration with its experiential language platform, Ortsbo, which will allow the company to translate DealFrenzy’s offers into 50 languages.
Additionally, Intertainment’s Ad Taffy platform will equip registered members with location-based services and offerings.
"The acquisition of DealFrenzy is part of Intertainment's merger and acquisition strategy for strategic investment and acquisition of immediate and near-term revenue programs that fit into Intertainment's existing suite of services and technology," said David Lucatch, CEO Intertainment Media, in a statement. "With the integration of Intertainment's programs into DealFrenzy, we have effectively taken the group-buying, revenue rich platform, and enhanced it to make it not just socially engaging, but also to make it available to all cultural markets with no impediment of language communications."
In other words, daily deal sites are money-makers, so Intertainment is getting in on the action with a few twists of their own.
Image source: DealFrenzy.com
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