Business
RDE, Inc. (Restaurant.com) Completes Acquisition of CardCash.com, Creating $100 Million+ Incentives Business
Transformational Acquisition Greatly Expands RDE, Inc.’s Cross-Sell Opportunity and Offerings Schaumburg, IL, Jan. 03, 2024 (GLOBE NEWSWIRE) -- RDE, Inc.
About this update from Giftify, Inc.
[{"type":"text","content":"Transformational Acquisition Greatly Expands RDE, Inc.’s Cross-Sell Opportunity and Offerings Schaumburg, IL, Jan. 03, 2024 (GLOBE NEWSWIRE) -- RDE, Inc. (OTCQB: RSTN) (“RDE” or “Company”), the owner and operator of Restaurant.com, the nation's largest restaurant-focused digital deals brand, is pleased to announce it has closed on its acquisition of CardCash.com, a privately owned pioneer in the secondary gift card marketplace, including all of its products and intellectual property. The combined businesses accounted for over $100 million in revenue in 2023, due mainly to the acceleration of business traction in the U.S. consumer gift card market, valued at $300 billion annually. This business combination significantly expands RDE’s cross-selling marketing opportunities and provides Restaurant.com customers with a broader range of discounted gift card options across multiple industries. Restaurant gift cards are already the most popular option on the market, making up one-third of sales gift card sales annually. Increases in consumer demand and demonstrated revenue growth validate the value of CardCash.com’s unique model in both the consumer and business arenas. The CardCash.com platform enables consumers to sell unwanted gift cards and purchase the ones they want from CardCash.com at a discount, receive digital cards within seconds of purchase, and effortlessly use them as payment at checkout. The CardCash.com Exchange Platform enables retailers to turn their competition’s customers into loyal customers of their company. CardCash.com purchases competitor gift cards and seamlessly converts them into partner company branded currency. “We believe that the combined resources of RDE, Inc. 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 realize substantial savings every time they dine, shop, or enjoy entertainment,” stated Ketan Thakker, CEO of RDE, Inc. “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 exciting to expand our offering in making us the go-to destination for cost-conscious consumers seeking remarkable deals at their favorite restaurants, reta...