Australian online coupon website Tjoos has been acquired for an undisclosed sum by online media company Internet Brands.
The company is one of the nation's more high-profile start-ups due to it being co-founded by Bart Jellema, who has been active in the Australian start-up scene — especially in forums such as StartupCamp Australia and the Silicon Beach group. The other founder is the start-up's CEO Kim Chen.
The site offers merchant management tools allowing online retailers to customise their coupon listing to assist with their own revenue and traffic growth goals, as well as providing a platform for content syndication via Twitter, RSS feeds, blogs and widgets.
According to a statement issued by Internet Brands, Tjoos grew by 150 per cent to "well over" 1 million unique visitors in February 2010, compared to the prior year, with the growth being driven by the site's collection of more than 500,000 coupons from more than 180,000 merchants.
"This is a hot area," said Internet Brands CEO Bob Brisco. "Discount discovery, fuelled by community participation, is growing very rapidly and will continue to do so. Consumers want deals, and coupons are a massive marketing channel for both small and large merchants."
Internet Brands already runs other online shopping sites such as UltimateCoupons.com, BensBargains.net and Bargainist.com. "We are very focused on discount shopping and deal discovery," said Brisco. "We believe the market will continue to expand quickly, and we plan to bring a considerable amount of innovation to these sites."
Chen hasn't twittered from her personal account since 19 February , but according to Jellema's account, he plans to take part in the Startup Bus project shortly — on a bus from San Francisco to Austin, 12 strangers will conceive, build and launch three technology start-ups in time to catch a party at the South by Southwest technology conference.
"Party will have to wait until after our trip to the US, but don't worry, there will be one!" he said.