Keynoir drives group-purchase consolidation in incredible launch

Online group purchasing club, Keynoir, has announced significant expansion in its first two weeks of business with the acquisition of competitor, Dealbunch, and an agreement to support the retailer commitments of recent industry departure, Snippa.

Leading the surge in social networking by empowering people to group together and act as bulk-purchasers, Keynoir’s latest move will ensure an even greater range of aspirational lifestyle experiences is made available to its membership.

The company launched last Tuesday with a sell-out, half-price three-course meal at Tom Aiken’s prestigious Michelin-starred restaurant and has followed up with a range of fantastic experiences at such venues as the Hempel Hotel, Melt Chocolate and the Supper Club.

The service, brainchild of Glen Drury, former Yahoo! VP Europe and Internet pioneer Philip Wilkinson, founder of the UK’s first price comparison website (later becoming Kelkoo) and technology deal-maker Jan Riem, has received backing of £1.3m from top venture capital firms Index Ventures, backers of LoveFilm and Skype, and PROfounders Capital, the entrepreneurial venture capital firm backed by Brent Hoberman from Lastminute.com, Michael Birch from Bebo, and others. Membership is free for a limited time and the recent acquisition is likely to capture an even larger audience.

Co-founder, Glen Drury, said: “This expansion shows we’re the one to watch in this marketplace, and with our strengthened businesses we’ll both broaden our partner-base and be able to put forward an even greater range of outstanding offers.”

Members of the network are presented with a single offer every day on lifestyle experience packages and encouraged to promote them through social networks in order to achieve a minimum number of purchasers (the tipping point) to make the deal active.

Co-founder, Philip Wilkinson, added: “Keynoir is a win-win situation for both the businesses involved and our members. The businesses benefit from marketing their services to a targeted audience and our customers are able to enjoy an enhanced lifestyle through Keynoir.”

Although the up and coming list of offers is a closely guarded secret, events such as Mint Polo in the Park, at the Hurlingham Club is among the likely candidates.

ENDS

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