VC-backed deals aggregator Bownty buys rival Yunait

Danish deals aggregator Bownty has acquired its Southern Europe-based rival company Yunait. No financial terms were disclosed. Bownty is backed by SEED Capital and Accelerace Invest while Yunait is backed by Inveready.

PRESS RELEASE

Copenhagen, Denmark: Today, deal aggregator Bownty based in Copenhagen announced that it has acquired its main Southern European competitor Yunait. With this acquisition, the young startup expands its services geographically into Southern Europe. After the acquisition Bownty will have around 2 million users and is Europe’s leading aggregator for deals on experiences.
Steffen W. Frølund, the founder of Bownty said: “We are building the Kayak.com for deals on experiences. The experience economy and online2offline commerce is really beginning to gain traction. With the acquisition we expect an acceleration of our growth and we think that Yunait is the perfect match for Bownty in our effort to conquer this space.”
Pablo Elosua, Yunait’ CEO and Steffen met briefly at a conference in London and after a while they entered a content exchange partnership. The complementary relation between the companies became evident as they were sharing a large part of the European market. Both companies share the same vision of giving people access to more great experiences.
“Size is key in our category so joining forces was an obvious move, especially when working in complementary markets. Our combined knowledge will enable us to build a better service for our 2 million users. We will focus on being Europe’s leading resource for deals on experiences. Especially Bownty’s successful mobile execution will be a great addition to our markets. I am very excited to remain in Bownty as partner and board member”, Pablo announced in a recent interview.
The companies will after the acquisition operate under the Bownty brand in all its markets. As part of the synergies Yunait’s users will get access to deals on Bownty ́s free mobile apps for iPhone and Android. More than 50% of Bownty’s experiences are currently sold on mobile. They both hope to add significant volume by adding the mobile sales channel to the southern markets.
More than half a million experiences are booked yearly on the two sites. This represents around €20M in annual sales. Bownty is now looking to double that figure during the next 12 months.
About Bownty:
Founded in 2010, Bownty is on a mission to give people more great experiences. Bownty finds deals on great things to do from websites such as Groupon, LivingSocial and hundreds of others. Based in Copenhagen, the startup is now present in 7 European countries and employs 17 people. Bownty have raised funds from SEED Capital and Accelerace Invest. For further information please visit: http://bownty.co.uk
About Yunait:
Yunait is the leading deals aggregator in Southern Europe. Created in 2010, it has quickly expanded from Spain into Italy, Portugal, UK, Brazil, Argentina and Chile, grouping deals from more than 100 websites. Yunait raised funds in 2011 from Inveready, one of the leading VCs in Spain. For further information please visit: http://yunait.com

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