Global Savings Group to acquire Shoop Germany
The Global Savings Group (GSG), Europe’s leading shopping rewards company, and Shoop Germany GmbH (Shoop), operator of Germany’s #1 cashback platform shoop.de, have reached an agreement under which the GSG will acquire Shoop Germany GmbH.
Shoop will now join forces with GSG to continue growing the strongest digital cashback community in Germany. Founded in 2010, Shoop is a Berlin-based loyalty platform that offers customers cash rewards with its network of more than 2,000 online merchants and top-tier brands.
According to a 2020 study by the German Institute for Service Quality, the website is the #1 cashback platform in Germany with the highest customer satisfaction rates. Since 2010, the platform’s customers have earned over €100 million in cashback with Shoop. “Bringing the scale of GSG to Shoop will give us the opportunity to establish Cashback rewards in Germany’s mass market. Looking across Europe, Germany is still a comparable underserved market when it comes to online cashback rewards. By applying best practices across European markets and products, we will be able to make cashback a part of every user’s journey,” adds Veit Mürz, CEO at Shoop.
The acquisition aligns GSG and Shoop’s shared vision to create rewarding moments for people and empower them to make the best shopping decisions in a smart and enjoyable way. Combining Shoop’s loyal customer base with GSS’s extensive network of the largest advertisers, brands, and publishers will bolster its future growth and reinforce the position as the European leader in the digital rewards and savings information industry.
“After the successful acquisition of iGraal in March 2020 and with the recent acquisition of Shoop, GSG has now also become the clear continental European leader in the growing shopping rewards space. I’m excited to continue working with the team on their journey as GSG is consolidating and transforming this industry in Europe that is undergoing a lot of change also in the US, as seen by the acquisition of players such as Honey through Paypal. I’m convinced that GSG is in a prime position of building a truly unique digital European Champion in this space,” says David Kuczek, general partner at HV Capital.