Business
RDE, Inc. (Restaurant.com) Signs Definitive Agreement for Transformational Acquisition of CardCash.com
Aggregate unaudited 2022 revenue of $101.7 million Tremendous Synergistic cross-sell opportunity across platforms and offerings to businesses and consumers
About this update from Giftify, Inc.
[{"type":"text","content":"Aggregate unaudited 2022 revenue of $101.7 million Tremendous Synergistic cross-sell opportunity across platforms and offerings to businesses and consumers Schaumburg, IL, Aug. 22, 2023 (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 entered into a definitive agreement to acquire CardCash.com, a privately owned pioneer in the secondary gift card marketplace, including all of its products and intellectual property. The acquisition is targeted to close by the end of 2023 and is subject to certain closing conditions. The business combination will enable RDE to expand its current offerings in the U.S. consumer gift card market valued at $300 billion annually. This transaction will provide Restaurant.com customers with a broader range of discounted gift card options across multiple industries. Key highlights of the acquisition: Combined unaudited revenue of RDE, Inc. and CardCash.com for 2022 would be $101.7 million and $46.9 million through June 30, 2023.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.Seamless User Experience: With the integration of best practices from both companies, the customer journey will be enhanced, offering a user-friendly and streamlined experience.Enhanced Value for Merchants: Restaurants and retailers partnering with RDE, Inc. will benefit from exposure to CardCash.com's vast customer base. We believe that this expanded reach will drive increased foot traffic and sales for businesses. “The synergy between RDE, Inc. and CardCash.com presents an exciting opportunity to redefine the gift card industry, offering customers a broader range of discounted gift card options from various industries,” stated Ketan Thakker, CEO of RDE, Inc. “With the integration of CardCash.com's expertise, RDE, Inc.'s platform will expand its offering, making it the go-to destination for cost-conscious consumers seeking remarkable deals at their favorite restaurants, retailers, and entertain...