Seven Group Holdings Ltd
(ASX:SVW) and Yahoo’s joint venture Yahoo7 has bought the daily deal website Spreets for $40 million.
Most of the country’s largest media companies now own a stake in their own daily deal website.
Nine launched Cudo in September, and News Limited and the Ten Network have backed Our Deal.
Global Giant Groupon is expected to enter the Australian market in the coming weeks.
Daily deal websites email discount offers such as restaurant meals or spa deals to members to attract new customers to the business they promote.
Seven reported a $718 million net profit in the year to 30 June 2010.
