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Swiss media company takes majority stake in local Groupon clone Deindeal.ch

Mike Butcher

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Mike Butcher is the European Editor for TechCrunch. A former grunge rock drummer, he became a long time journalist, and has since written for UK national newspapers and magazines including The Financial Times, The Guardian, The Times, The Daily Telegraph and The New Statesman. Mike is also a co-founder and shareholder of TechHub, a co-working space/service/community with several locations... → Learn More

Monday, June 27th, 2011
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A 60% share of the the leading daily deal site in Switzerland, Deindeal.ch, has been acquired by Ringier, a Swiss media company. Zurich-based Deindeal.ch is said to be larger than Groupon in the region, and continuing on a good growth path. Terms were were not disclosed.

Deindeal.ch has been online since March 2010 and has over 100 employees. It offers daily deals with at least 50 per cent discount on lifestyle products, as per the Groupon model (which has been roundly trashed, but perhaps it’s working in niche markets?).

Management will stay on at the company.