The Global Savings Group has acquired the British company Pouch. The browser extension will be integrated into the Munich-based discount platform.
The Pouch browser extension automatically searches for suitable coupon codes when shopping online. Users can save money on their purchases without having to research discount codes themselves. The extension is available for free for Google Chrome, Safari, and Firefox.
The principle thus appears to fit well with the offering of the Global Savings Group. The Munich-based company operates discount portals worldwide that collect voucher codes for online users. The company hasn't disclosed the exact purchase price. Only this much: It's a single-digit million-dollar amount. Performance-related bonuses are also included. The company told Munich Startup Andreas Fruth, Co-founder and Managing Director of Global Savings Group:
"With GSG as the leading PubTech platform for commerce content, we are constantly seeking and developing new solutions for our partners. With Pouch, we have acquired an innovative company with a great team and technology that will allow us to offer new services to our publishing partners. We plan to integrate Pouch's offerings into our platform and significantly further develop Pouch's solutions together with the team."
British TV investors jumped on Pouch
Pouch is best known to the British public through an appearance on the BBC programme “Dragons' Den" last year. On the British equivalent of "The Lion's Den," the startup received offers from all five investors. During the television show, the founders sealed a deal with the three investors Touker Suleyman, Jenny Campbell, and Tej Lalvani: a total of 18 percent of the company shares for 75,000 British pounds. However, the investment did not materialize after the show because the founders later sought capital on better terms. In total, the startup was able to secure financing of 345,000 pounds before being acquired by the Munich-based company.
