The increasing importance of cash-back and coupon sites in modern society has been underlined by Vodafone, which has taken a controlling stake in mobile coupon provider Vouchercloud.
Telecoms giant Vodafone has increased its stake from 21% to 57% in Invitation Digital Limited (IDL), the parent company of Vouchercloud, and has first option to increase its stake in the future.
Vouchercloud, which offers discounts, codes and vouchers for daily shopping via a mobile phone, announced its launch in Ireland on Wednesday, and the plans are for Vodafone and IDL to co-operate on launches in other parts of the world.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Mobile couponing is set to grow rapidly across Vodafone's businesses as cost-conscious consumers increasingly turn to their smartphones to hunt for bargains and collect loyalty points. We look forward to working more closely with Vouchercloud in future as m-commerce services become ever more central to consumers' daily lives," said Vodafone Group Commercial Development Director Tobin Ireland.
Financial details of Vodafone's increased stake were not divulged.
JH
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
