US-based restaurant-focused digital deals brand and Restaurant.com operator RDE has completed the acquisition of CardCash.com, a privately owned company in the secondary gift card market.
As per the deal, RDE has now gained access to all the products and intellectual property of CardCash.com.
The transaction brings together two companies that collectively generated over $100m in revenue in 2023.
CardCash.com CEO Elliot Bohm stated: “There are tremendous opportunities ahead for us in growing the combined business through synergies, cross-selling and additional revenue products.”
The latest acquisition enhances RDE's cross-selling capabilities and offers Restaurant.com customers a wider selection of discounted gift cards for a range of industries.
Restaurant gift cards constitute almost one-third of annual gift card sales.
The platform offered by CardCash.com focuses both on consumers as well as businesses.
It allows consumers to sell unwanted gift cards and buy desired ones from CardCash.com at a discount.
Customers using the CardCash.com platform receive digital cards immediately after purchase, which they can later use for payment at checkout.
For retailers, the CardCash.com Exchange Platform presents an opportunity to convert competitors' customers into loyal customers by transforming competitor gift cards into their branded currency.
RDE CEO Ketan Thakker stated: “We believe that the combined resources of RDE and CardCash.com will enable customers to experience unprecedented savings on gift card purchases.
“By leveraging the power of digital technology, customers can exchange or access discounted gift cards instantly and realise substantial savings every time they dine, shop, or enjoy entertainment.”
“Over the past few months, our teams have made significant progress with integrating the processes and expertise of CardCash.com and Restaurant.com, and we are very excited to expand our offering in making us the go-to destination for cost-conscious consumers seeking remarkable deals at their favourite restaurants, retailers and entertainment venues."
In February 2022, RDE acquired the developer of the Spindy cash rewards application, GameIQ.
