WhaleShark Strikes Again, Snapping Up eConversions

WhaleShark Media expanded its international capacity this week with the announcement that it acquired eConversions, Ltd. Doing so gives WhaleShark two more coupon sites to add to the mix: VoucherCodes.co.uk and GutscheinCodes.de. eConversions was founded in 2004 by brothers Duncan and Max Jennings without outside investment.

The United Kingdom’s largest coupon site, VoucherCodes appears to be the biggest prize of this acquisition. TechCrunch reported that the deal is worth “around $40 million in cash and stock.” It’s speculated that VoucherCodes generates $15 million in annual revenue. Earlier this month, WhaleShark announced that it had received a $10 million investment from Google Ventures. This move confirms WhaleShark’s strategy to continue growing through acquisition, including the option to expand internationally.

“We’ve said from the start that we were interested in international acquisitions,” Cunningham said. “We’re excited to have found a property we like. This is a great initial first step for us into the (European Union countries). This is going to be a great springboard for us to then lever into the continent.”

This deal follows six previous purchases of other coupon sites by WhaleShark. VoucherCodes and GutscheinCodes will join a portfolio that includes “deals2buy, coupon7, couponshare, cheapstingybargains.com, deals.com and retailmenot.”

Part of WhaleShark’s interest in eConversions lies with its email marketing success. With over four million subscribers to its weekly newsletter, WhaleShark CEO, Cotter Cunningham, believes there’s something to be learned for the benefit of the other brands.

About Britt Raybould

Britt Raybould has a passion for telling stories and she specializes in helping companies figure out how to tell their own stories. Through her firm, Write Bold, she shows companies how storytelling can define them, both to their customers and within their industry. When she remembers to, Britt blogs on her personal sites at bold-words.com and brittraybould.com. You can find Britt on Twitter @britter.

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