Online comparison shopping company Nextag has acquired NextCoupons.com, an online coupon provider based in Santa Monica, Calif. Financial terms of the deal were not released. Nextag is based in San Mateo, Calif., and is backed by Providence Equity Partners, Morgenthaler Ventures and Technology Crossover Partners.
Nextag, (Nextag.com), a leading comparison shopping website for products and services, today announced the acquisition of NextCoupons.com, an online coupon provider based in Santa Monica, CA. The acquisition is the latest step in a series of strategic hiring, technology development, and acquisition efforts underlying the company’s growth strategy. Financial terms of the acquisition are not being disclosed.
“Our acquisition of Nextcoupons.com is a step along the path to improve the Nextag consumer experience as well as significantly increase the return on investment we provide to merchants for their marketing dollar,” said Jeffrey G. Katz, Chief Executive Officer of Nextag. “We’re working to change the notion of shopping in a way that brings in more consumers, and is much better for merchants than what is available in today’s marketplace. This acquisition takes us a small step forward towards our promise that consumers are going to love shopping at Nextag.”
According to statistics gathered by media researcher The Nielsen Company, online coupon usage increased by 263% in 2009. More coupons being used by consumers means more deals will need to be offered by retailers in order to meet demand and stay competitive. Nextcoupons.com is a logical addition to Nextag’s portfolio of services as the company continues to build out features that meet consumer desire for a more fun, social and personalized experience in the evolving online shopping space.
NextCoupons.com allows shoppers to create an account and share offers with the rest of the site’s visiting deal hunters. NextCoupon’s technology also provides value to retailers, giving them direct access to the site’s coupon inventory, allowing them to post their own coupons and coupon codes, and even view statistics on previously posted coupons.
“NextCoupons.com’s technology fits perfectly into Nextag’s strategic vision to enhance the online shopping experience through greater personalization and social media features,” said Joseph Raffetto, NextCoupons.com’s CEO. “We are confident that Nextag will build upon our technology platform to further increase customer satisfaction and retailer ROI in the competitive online coupon marketplace.”
Nextag is the ultimate resource for online shoppers, offering a fun, reliable and expansive browsing experience for everything from toys to travel plans. Our best-in-class search technology and proven expertise ensure that all of our 30 million+ monthly customers find the products, prices and information they need, when and where they need them. Nextag operates comparison shopping sites in the US (Nextag.com), the UK (Nextag.co.uk), France (Nextag.fr), Germany (Nextag.de), Spain (Nextag.es), Italy (Nextag.it), Australia (Nextag.com.au) and Japan (Nextag.co.jp). Nextag is headquartered in San Mateo, California with offices in London, Tokyo and Gurgaon, India.
NextCoupons.com is a privately owned company that provides consumers and retailers with access to the hottest online coupons and deal promotions from hundreds of retailers. NextCoupons.com offers coupons from over 500 retailers through a variety of delivery methods, including an iPhone formatted site, social networking integration with Twitter and Facebook feeds, and browser integration with a Firefox Toolbar. The company is based in Santa Monica, California.