European daily deal aggregator Bownty has acquired local competitor Yunait, which claims to be the leader in Southern Europe — though, notably, along with Spain, Italy, Portugal and the UK, it also operates in Brazil, Argentina and Mexico.
Terms of the deal remain undisclosed. However, the daily deal aggregator roll up will see Yunait adopt the Bownty brand, giving the combined two properties around 2 million users, making it Europe’s leading aggregator for deals based on “experiences”.
It’s a familiar daily deal aggregator play: Subscribers receive one daily email that matches their preferences, thus negating the problem of so-called “daily deal fatigue” caused by too many and spammy emails advertising irrelevant deals. There are also apps for iOS and Android. In fact, Bownty is talking up its ability to execute on mobile as one of the things it brings to the Yunait acquisition — noting that over 50 percent of its deals are sold via mobile.
Steffen W. Frølund, founder of Bownty, said in a statement: “We are building the Kayak.com for deals on experiences. The experience economy and online2offline commerce is really beginning to gain traction. With the acquisition we expect an acceleration of our growth and we think that Yunait is the perfect match for Bownty in our effort to conquer this space.”
Yunait was previously backed by Spanish VC Inveready. Meanwhile, last year Bownty raised $1.1 million in new funding from Danish SEED Capital, and Accelerace Invest. Today’s acquisition was a mixture of cash and stock (plus earn-outs), with Yunait’s main backers and founder now holding shares in Bownty.