WhaleShark Media Buys UK’s Top Coupon Site, VoucherCodes

WhaleShark Media, which just announced an investment by Google Ventures, continues to acquire coupon sites around the world. Tomorrow they’ll announce the aquisition of eConversions, Ltd., operator of the web sites VoucherCodes.co.uk in the UK and Gutschein-Codes.de in Germany. Vouchercodes is the UK’s largest coupon site, says Whaleshark.

The size of the acquisition isn’t being disclosed, although we’ve heard it’s around $40 million in cash and stock. VoucherCodes is currently generating around $15 million in revenue, we’ve also heard from sources, although the company wouldn’t confirm that either.

Whaleshark has previously acquired six other coupon sites, including deals2buy, coupon7, couponshare, cheapstingybargains.com, deals.com and retailmenot. We estimated the company’s revenue prior to this most recent acquisition at around $50 million/year.

Whaleshark CEO Cotter Cunningham says they were particularly attracted to eConversions’ email marketing prowess. The company has more than four million subscribers to its weekly email newsletter, and Cunningham wants to use that expertise to leverage its U.S. brands.

eConversions was founded by brothers Duncan and Max Jennings in 2004 and had raised no outside funding.