Time Out takes on Groupon? Magazine buys daily offers firm Keynoir

25/11/2011

Time Out Group has bought the Keynoir daily offers firm, as the entertainment listings magazine looks to expand its business. This transaction follows the company’s recent acquisition of the LikeCube software recommendations business and the integration of its North American counterpart, Time Out New York. 25/11/2011

Keynoir — a high-end lifestyle business — offers its members handpicked deals, giving access to exciting venues and on-trend brands, and will form part of Time Out’s transaction business, running alongside Time Out daily deals, launched in May. With the addition of Keynoir, Time Out expects to be offering a wider range of exclusive deals and transactions to its growing London audience, which currently stands at more than 3 million unique users. “Keynoir is one of a range of planned product-specific acquisitions, aimed at boosting our foothold in the recommendations and bookings market. This strategy is intended to strengthen Time Out’s position prior to commencing a national roll-out in 2012, bringing the best purchasing capabilities and services to our audience,” Paul Shaw, e-commerce director of Time Out, said. Keynoir’s acting CEO, Graeme Walker, said he was delighted with the deal. “We are delighted to be part of the Time Out Group and see inspiration and recommendation at the core of Time Out’s plans for the future. The growth that Time Out is experiencing will introduce Keynoir to a rapidly expanding audience incredibly quickly, which is very exciting,” he said. The Keynoir team will continue to be headed up by Graeme Walker, who will report directly to Paul Shaw.

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