By Aimee Chanthadavong
The brothers behind Scoopon and CatchOfTheDay managed to score themselves an $80 million deal in May with New York-based Tiger Global Management and a group of Australian businessmen including James Packer’s Consolidated Press Holdings (CPH), Andrew Bassat, co-founder and CEO of Seek, and Glenn Poswell, founder of Gannet Capital.
And now Gabby and Hezi Leibovich have bought into US daily deal site Groupon for an undisclosed amount.
Due to legal reasons, Scoopon has told RetailBiz that it is unable to speak about the settlement. But in a statement to the press Scoopon has revealed that the company has settled its legal dispute with Groupon in Australia, the US and in New Zealand.
“The parties have agreed to the Court making orders that, each of the parties claims against each other have been dismissed with no order as to costs,” it said.
“Scoopon has determined that as it now enjoys a leading position in the marketplace, when combined with the recent backing of the Tiger and Packer consortium of investors, that it is exceptionally well positioned to meet Groupon in the market.
“Scoopon can now focus on continuing to drive its business and delivering unmatched benefits to both consumers and service providers alike."
- Australian retailers nominated for major gongs at World Retail Awards
- ACCC slaps Scoopon with $1M fine for misleading businesses, consumers
- Catch Of The Day launches brand campaign with Seinfeld actor
- Groupon launches smart tailored deals
- Consumer watchdog takes Scoopon to court
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