I think Packer has bought Scoopon

voteoften on 23/05/2011 - 13:39

Thank heavens.

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  • voteoften on 23/05/2011 - 13:42

    Only 40%. Too bad.

  • neil on 23/05/2011 - 14:16
    +1

    A description of what you are talking about and link may be helpful to people.

    As you haven't bothered:

    Packer's Consolidated Press Holdings and New York-based Tiger Global Management teamed up with Andrew Bassat, co-founder of Seek, and Glenn Poswell of Gannet Capital in a consortium bid to pick up a massive stake in the daily deals sites.

    The consortium is set to control 40 per cent of the deals business, owned by Gabby and Hezi Leibovich, with the investment pegged at $80 million.

    Via ZDNET

  • allthedeals.com.au on 23/05/2011 - 14:28

    Wow. Would have thought the "legal stoush" with Groupon would have scared them off. That and all the negative comments on OzB :-)

  • voteoften on 23/05/2011 - 14:32

    I figured something was definitely up as scoopon all of a sudden appeared more proactive in the past week. Cleaning up the "crap" so to speak. Or they denied every refund in order to maximise sales price.

  • punk on 23/05/2011 - 18:24
    +2

    sweet, I don't think much will change. It sucked before and its going to SUCK now.

  • pianissimo on 23/05/2011 - 18:47
    +6

    So Packer is expanding his gambling empire - he's got the casinos, now he runs the lottery of getting delivery/service from COTD and Scoopon!

  • scotty on 24/05/2011 - 10:03
    +1

    40% at the evaluation of 200 million bucks — that's $80 million investment to help the Leibovich brothers to launch 2 new websites. The information is also released on Catch of the Day website:

    http://www.catchoftheday.com.au/news.php?article=541

    Crazy.

    Even crazier, there will be heaps more CatchOfTheDay/Scoopon wannabe sites springing up left and right, spamming their try-hard offers in all kinds of social media. Tough time ahead, OzBargain moderators!

  • Rumbaar on 24/05/2011 - 12:07

    Interesting to see how http://www.google.com/press/annc/maps_coupons.html affects this kind of market.

    • finance on 24/05/2011 - 13:40

      that's cool, any good deals ;P

    • arcticmonkey on 24/05/2011 - 16:45

      2006?

      • scotty on 24/05/2011 - 20:00
        +1

        Yeah. Not much an "announcement". I am actually wondering whether Google is still doing it.

        Google is launching "Google Offers" though — already in some cities in US, which operates on a similar model as Groupon/Scoopon/Spreets. But customer service is really not Google's strength. From the stories I've read, it could be worse than Scoopon :P

  • samfisher5986 on 25/05/2011 - 00:08

    I really struggle to understand how its worth so much.

    All of these sites are very vulnerable to competitors. But I guess $80 million might just be pocket money for them.

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