Mi9 latest to exit group buying, selling Cudo to owner of deals.com.au

July 1, 2013 10:15

Nine Entertainment Co’s joint business with Microsoft Mi9 has sold its group buying website Cudo to online business AussieCommerce.

The deal will see Cudo merge with AussieCommerce’s other group buying website deals.com.au.

The sale of Cudo by Mi9 follows the decision of rival Yahoo!7 in February to withdraw from the group buying market, instead becoming a list broker. That came little more than two years after Yahoo!7 bought Spreets at the top of the group buying bubble for a price of $40m.

Mi9 is refusing to say how much AussieCommerce paid for Cudo, which was launched in 2010 by Mi9’s ninemsn and heavily marketed on the Nine network.

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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2 COMMENTS

Anon 1 Jul 13

I worked briefly at Cudo and it was in a dire spot 12 months ago. I’m surprised it took this long for them to offload it. I couldn’t imagine it was worth much…

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Foxy 1 Jul 13

I had a stint at Cudo too. Bloody awful place to work. A revolving door with all the sackings and redundancies that go on at the place.

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