GSG buys German cash back rewards venture Shoop
Shopping rewards company, The Global Savings Group (GSG), is to acquire loyalty platform Shoop Germany.
Terms of the deal were not disclosed.
"The deal strengthens our position as a European market leader, building the largest global digital rewards, savings, and shopping content platform," says Gerhard Trautmann, CEO at GSG.
"Following the acquisition of the leading French cashback company iGraal in March 2020, our primary goal is to empower consumers globally in making smarter shopping decisions through our comprehensive portfolio of consumer engagement platforms and solutions."
“Bringing the scale of GSG to Shoop will give us the opportunity to establish cashback rewards in Germany's mass market,” comments Veit Mürz, CEO at Shoop.
“Looking across Europe, Germany is still a comparable underserved market when it comes to online cashback rewards.”
“By applying best practices across European markets and products, we will be able to make cashback a part of every user's journey.”
