Time Out Acquires Kelkoo Select


Arts and entertainment information provider Time Out Group has acquired the Kelkoo Select daily offers business. This purchase follows the company’s recent acquisition of the LikeCube software recommendations business and the integration of its North American counterpart, Time Out New York. Kelkoo Select was established as a standalone business venture by Kelkoo, the shopping and travel comparison website, to explore the daily deals market. Kelkoo was originally backed by French venture firm Banexi Venture Partners.

PRESS RELEASE

Following its purchase in November of offers business Keynoir, Time Out Group, the world’s leading source of information and ticketing for arts and entertainment has acquired the Kelkoo Select daily offers business. This purchase follows the company’s recent acquisition of the LikeCube software recommendations business and the integration of its North American counterpart, Time Out New York.

Kelkoo Select was established as a standalone business venture by Kelkoo, the shopping and travel comparison website, to explore the daily deals market. After a short period of transition, it will be integrated into Time Out’s own deals business, launched in May. The acquisition will form part of Time Out’s transaction business and will widen the range of offers Time Out is able to provide to its growing London audience, which currently stands at 3.3 million unique users. This further consolidates Time Out’s position as a digital media group prior to a national roll-out in 2012, and brings outstanding purchasing capabilities and services to its UK audience.

Paul Shaw, e-commerce director of Time Out, says: ‘Time Out customers will benefit from the additional breadth of offers that Kelkoo Select can provide, including access to a number of exclusive partnership deals.’

Time Out CEO, David King, says: ‘It’s fantastic to be able to add Kelkoo Select to the Time Out Group offers business. This acquisition enhances our offering to customers and supports us in forming long-term relationships with suppliers, delivering exclusive deals at competitive prices.’

The Kelkoo Select team will report directly to Time Out’s e-commerce director, Paul Shaw, with immediate effect.

ENDS

Key facts on the Time Out Group include

· Time Out has a worldwide audience of over 17 million* across all channels which incorporate, a very strong online presence, mobile applications, travel guides, events city magazines and partnerships.

· In May 2011 Time Out launched its deals platform, which combined with its growing transactional capabilities, and its recent acquisition of executive members club Keynoir has seen November as a recording breaking month for digital revenue across all digital platforms.

· Time Out has experienced exceptionally high digital growth in the last 12 months, with global unique users per month up to 8 million, just over 3.3 million of which are in London (which represents a 60% year-on-year growth.

· Time Out has also seen some incredibly exciting app developments, including a global partnership deal with Nokia and the launch of iPhone and Android apps, with more than 1.2 million downloads and counting.

· Time Out’s core goal is to be the number one trusted choice for consumers seeking inspiration, information, recommendation and booking opportunities relating to arts, entertainment and culture on a global scale.