We’re Spreets ahead of Cudo

Dean_McEvoy_SpreetsIn this guest post,  Dean McEvoy, CEO of Spreets – which was sold for $40m this week –  takes issue with Cudo’s claim to be the number one group buying site.

Over the past 24 hours, we’ve been pretty blown away by the attention we’ve got about the acquisition of Spreets by Yahoo!7. We’ve also been amused by the attention that Cudo has given to the deal.  

We’ve been even more amused by the fact that they are claiming market leadership based on Nielsen audience numbers.

Has anyone told them yet that they are running a group buying business, not an online advertising business?

Anyone familiar with group buying knows that a big audience does not a market leader make.

It’s not about driving masses of people to a website to see an advertisement. Its about using social connections to deliver amazing deals to the right audience. A quality audience. An engaged and ready to buy audience. It’s a conversion game, not an audience numbers game.

We care about showing people new and interesting things to do in their local area and finding amazing deals to share with their friends via email, Facebook and Twitter. In that process we’ve saved Australians over $40 million. I wonder how much Cudo has saved? I know its not as much as us.

Success and leadership is measured by number of vouchers sold and revenue – just ask Groupon. Livingsocial, the number two in the US market, buys more audience, but no one thinks for a moment that they are the market leader.

Good luck to the Cudo guys – we’re already leading them in vouchers and revenue and that’s before we have engaged the power of Yahoo!7’s media network and its leadership in targeting to find the right people at the right time to buy Spreets deals.

  • Dean McEvoy is the co-founder and CEO of group buying site Spreets

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