Cudo acquires travel deals business
Group buying site Cudo has added a travel deals business to its group buying offers.
The announcement:
Cudo is making a major play in the travel deals category, today announcing it will acquire the Getaway Lounge travel business into its group buying offering.
This will bring together Cudo’s huge national database of subscribers, and the popular Getaway Lounge travel deals site – which offers holiday experiences featured on Australia’s longest-running
and most popular travel show, Getaway.“The daily deals market is experiencing sustained growth in Australia and travel continues to be one of the largest categories. Bringing Cudo together with Getaway Lounge means our offer to
merchants, and consumers, becomes bigger and better,” said Cudo CEO Mike Sneesby.Through this deal Cudo aims to build on its strong travel deal foundations, to establish a leadership position in the travel category in group buying in Australia.
“While the daily deals market continues to be very competitive, we continue to focus on building scale while leveraging the strength of our strong local brands like Getaway,” said Sneesby.
“This deal means we can give our merchants access to a much larger audience, while bringing consumers more amazing deals and great value for money.”
“By rolling the Getaway Lounge business into Cudo, it enables us to combine operations, recognise synergies in both businesses through cross-promotion, and gain significant market share.”
Getaway Lounge curates domestic and international travel experiences and offers them to its members at hugely discounted prices.
Getaway Lounge CEO Timothy Hughes says, “Since Getaway Lounge launched a year ago, it has built a significant database of Australian travellers and provided more than 300 travel deals offering
discounts of up to 80%. Combined with Cudo’s strong customer database and group buying power, Getaway Lounge will continue to gain market share in the travel category.”Getaway Lounge which was previously wholly owned by Nine Entertainment Co. will now sit within the Mi9 Joint Venture and operate within the Cudo business.
Source: press release
