Swiss media company takes majority stake in local Groupon clone

A 60% share of the the leading daily deal site in Switzerland,, has been acquired by Ringier, a Swiss media company. Zurich-based is said to be larger than Groupon in the region, and continuing on a good growth path. Terms were were not disclosed. has been online since March 2010 and has over 100 employees. It offers daily deals with at least 50 per cent discount on lifestyle products, as per the Groupon model (which has been roundly trashed, but perhaps it’s working in niche markets?).

Management will stay on at the company.