6/6/2012 10:19:13 AM
Vodafone Group takes controlling stake in Vouchercloud
Vodafone has taken a controlling stake in the company behind mobile coupon provider Vouchercloud, with the service also launching in Ireland.
The operator increased its stake from 21% to 57% in Invitation Digital Limited (IDL), and also has first refusal to increase its direct shareholding in the future. The company said it intends to launch the service in other countries and integrate it within Vodafone Group's broader mobile commerce strategy. Vouchercloud offers discounts, codes and vouchers for a range of high street shops by using a smartphone's GPS system to locate nearby deals. A voucher can be downloaded onto a device with a single tap and shown to a sales assistant to redeem the discount.
Vodafone Group commercial development director Tobin Ireland said: 'Mobile couponing is set to grow rapidly across Vodafone's businesses as cost-conscious consumers increasingly turn to their smartphones to hunt for bargains and collect loyalty points. We look forward to working more closely with Vouchercloud in future as m-commerce services become ever more central to consumers' daily lives.'
IDL CEO and co-founder Scott Davidson said: 'Our vision is to build the world’s leading mobile couponing business, making it easy for consumers to save money and get the best deals from a wide range of retailers, wherever they are. We are delighted that Vodafone shares our vision of the future and look forward to a long and successful partnership.'
Editor: Graeme Neill