Canadian mobile coupon company Checkout 51 has been acquired by coupon publisher News America Marketing.
The acquisition was completed and announced on Friday.
Launched in Canada in 2012, Checkout 51 is known for its mobile app, which allows users to take a photo of their grocery receipt to redeem money-saving offers. Users can scan weekly discount offers on several grocery items, from produce to personal care items.
There are more than one million registered Checkout 51 users in Canada to date and more than three million in the U.S. The majority of users (94%) are under 55 years old.
Headquartered in New York, News America Marketing is part of News Corp. The company delivers print and digital coupons in North America via products such as SmartSource. CEO, Marty Garofalo, said in a release that the acquisition will allow News America Marketing to offer new mobile options to its clients to reach consumers “with a smartphone-friendly, paperless and highly personalized experience.” He also noted that millennials in particular find that type of experience appealing.
Checkout 51 co-founder and general manager, Noah Godfrey (pictured, centre), said having access to News America Marketing’s CPG partners will give the app further reach and the ability to increase its offerings.
Checkout 51 is keeping its name and remaining in Toronto.
When the app debuted on Apple’s App Store at the end of 2012, it quickly became one of the most downloaded free apps in Canada.
In 2013, Godfrey, who worked with co-founders Andrew McGrath (pictured, left) and Pema Hegan (right) to create the app, gave a simple explanation of how companies work with Checkout 51: “Manufacturers pay us to distribute and process offers for them. They only pay for offers that get redeemed.”
It has worked with brands including Maple Leaf, Kraft and Johnson & Johnson.