As reported in El Mercurio, few discount companies have been able to compete with Groupon in Latin America, but Cuponatic is one of them. When Cuponatic was founded in 2010, the founders raised a US$1M round that allowed them to incorporate simultaneously in Colombia and Peru. In 2012, they also added Mexico, acquiring local competitor SaveMyDay.
Recently, Cuponatic has acquired competitors Agrupémonos, Urbania, and Ofertop, the last of which was owned by the newspaper El Comercio, from Lima.
Said Co-Founder Christian Real in the original El Mercurio report:
“I think that it has been our vision of creating a sustainable business, rather than growing at any price, which has allowed us to reach this point. A lot of our competitors were operating at a loss, backed by large investment funds. We have never done that.”
As they continue to develop the business, which now operates in 4 countries, Cuponatic recently opened their third brick-and-mortar location in Chile in order to stay closer to their customers. While the coupon market is growing slower than e-commerce in Chile, Real expects the business to grow at 15% per year.
Along with their acquisitions, this growth pattern will allow Cuponatic to close the year with over US$25M in sales.
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