Cudo leads online group buying growth
Cudo increased its audience in January alone by 14 per cent.
Group buying is simple – if more people sign up for a particular product or service they can all enjoy a group discount.
With Cudo subscribers receive a daily deal by email. A member can express interest in that deal and when the minimum number of other Cudo users do the same, the deal goes live and the transaction is completed.
“We’re thrilled that we have not only retained but strengthened Cudo’s position as Australia’s number one group buying site.,” says Cudo CEO Billy Tucker.
“We’re also leading category growth, with 39% of the group buying category visiting Cudo in January.
“We’re expecting six more months of significant growth, which we expect to lead, followed by industry consolidation to a selection of major players.
“As predicted, our unique model provides us with a significant advantage when it comes to attracting the best merchants and the highest audience, the two fundamentals dictating success in the group buying arena.”
Cudo was launched on September 1, 2010 and is a joint initiative between Microsoft and Nine Entertainment Co and resides within the ninemsn group of companies.