Meet Hidden Giant in Shoppers Rewards: Global Savings Group


Executive Summary

The Global Savings Group (GSG) is not a fintech. They are a hidden champion as Europe’s leading shopping rewards company, founded in 2012. They are offering an alternative to the GAFA channels and are active in 20+ countries under different brands. Amongst their clients are small merchants and well-known global companies.

We try to offer an alternative to the GAFA [Google, Apple, Facebook, and Amazon] channels, but we don’t do classical advertising”Gerhard Trautmann, CEO and Co-Founder GSG 

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The Founder

This time Gerhard Trautmann is our guest, the CEO and co-founder of Munich-based Global Savings Group. If you have not heard of them, they are active in 20+ countries under different brand names. He met his co-founders while still working in management consulting, and they decided to make their Powerpoint slides reality.

“Oliver Samwer said he did not like our ideas, but we could be a cool team.”Gerhard Trautmann, CEO and Co-Founder GSG

The Company

Global Savings Group ( is not a fintech company, they are working in the affiliate marketing space. They call themself a lead generation company, including couponing pages. They are active in 20+ countries with multiple websites across Europe. They won the German Deliotte Fast 50 Award.They own several commerce content portals. Some of their largest markets are the UK and France, even though they are headquartered in Munich. The company was started in cooperation with Rocket Internet. Amongst their clients are small merchants and adidas, Just Eat, IKEA, dyson, Lenovo, SAMSUNG, ebay, Nike, H&M,, O2, Sephora and Ray Ban.

They are also working with large media companies including Focus, CNN, El Pais, (Brazil), Le Express (France), Business Insider and One India on deals, discounts and coupons.

We funded our acquistions as a combination from our profits, loans and exchange of shares”Gerhard Trautmann, CEO and Co-Founder GSG 

Venture Capital Funding

The company raised in total M 79 US$ in funding since interception in 2012 up to Series D. They did not disclose the amount of their last funding in 2021. Amongst their investors are General Global Capital, TRP Global, HV Capital, Groupe M6, Rocket Internet, DTCP, New Enterprise Associates and Headline.

Open to Talk to Takeover Targets

GSG wants to grow organically, but is open to talk to companies that feel like they could add to their journey. 

Learn More

Find our blog with links and show notes here 

Welcome to start up bread dot I own your podcast and Youtube blog covering the German startup scene with News, interviews and live events alone. Welcome everybody. This is from start up raator. I owe your startup podcasts and Youtube blog from the German speaking start up scene. Today's interview is brought to you again by startup raving dot com, the most easiest and efficient way to look for investors and corporation partners. Today I do have a guest today. No surprise here, but we would talk about marketing and advertising together with Gerhard Hey hiding. Hi, Aaron. Thanks for having me. Could leave my pleasure. But before we get started with all of what we have ahead of us, you are based in Munich. Can you explain to a person not from Munich what advice was push took is so you have absolutely happy to do so. Munich is the probably most of you guys have heard about it from the October fest. So it is a deep place for great beer and for great vice versa, as UN was saying, and advicest pushed it. It's basically a white sausage breakfast, if we were translated literally. Is literally the breakfast we have. Your munate very often in Common Saturdays and Sundays before twelve o'clock. That's very important. It needs to be before twelve o'clock. Why? Because there's quite some history behind it that back in time the sausages would only be fresh aunt or twelve so um. Compared to a normal sausage, it is one that you need to cut up, remove sort of say the layer. Um, and then you have a wonderful white sausage with some sweet mustard and what we call a wonderful Breadzel, a Pretzel, and Um. That in combination is a classic here in Munich that you can get everywhere. Um, and you wouldn't happy to share some recommendations on the best restaurants we can get them? We we will link them down here in the show notes. He'll send middle links afterwards. Plus, it is on the weekend. It's little even to have a beer with that, even though I personally prefer the ones without alcohol in the morning. You are Gerhard, one of the three founders of global savings group, and before we get into any confusions, this is not a micro saving Fintech. You're completely in a different space. I would not completely exclude you from a little bit the fintech surroundings, because you're so dealing with sales. You're also dealing a little bit with finances, but most of the time you are more what people could describe as a really huge affiliate network, even though I realize you don't like the term affiliate right. Yeah, absolutely, right here. And so um in essence, in essence, what we do is where, you know, you could call is a media intent company or a Lee Generation Company in the wider e commerce space. So what do we do? On the one side? In essence, we connect consumers with advertisers. Advertisers you really you know, the big the big brands in the whole e commerce space. They wan't sort of said that we all daily, you know, do our approaches is on from Adidas up to Ebay, apup to Amazon, and what we do is, Um, look, we connect consumers um by actually through our wide variety of portals. Our core...

...offering is all around helping consumers to make better purchase decisions. So, you know, it offers ranges from, you know, cash back portals that we operate Um. You know, we have quite a variety of discount portals on the coupon ing Um, where you basically are able to get discount codes um up to. You know what we uh, let's say, called product recommendations, where, you know, we have our handpicked deals and where we will basically advise consumers on, so say, deals that cannot miss out. And you know, in essence, you know, the core mission of the companies all around helping people to have a better life by actually enjoying these table opportunities, while actually at the same time helping, you know, our advertising colleagues and clients to actually get access to a wide consumer base. And that's a bit how we connect the dots and the generation is at the essence of it, m hm Um, talking about the retailers and brands have found on your website, added as Ikea, Lenovo, Nike, H NAM, booking dot com, Sipora and ray band, just to name a few. So you're not necessarily working with the smallest guys, even though I do understand that even smaller merchants are your clients. Going a little bit before global savings group, we may apprivage as D S G. You know I love the T L as, the three letter acronyms here, and I found that you've gotten around quite a bit. You did a Ph d and you work for Siemens Management Consulting, interestingly, in Munich, in Sal Paolo, in my old in my old town Beijing, where also lived, and Tel Aviv. What did you do there? Where did you learn there and, most interestingly, why did you jump ship from a man which meant consulting position at cements, to Start Marketing Technology Lead Generation Company? Yeah, that's a great question and there's no logical there's no logical collection, but I'm happy to share a bit the story. So, Um, let's start with. Let's start with, you know, the my studies, um so. I graduated, Um, here in Germany from a business school where, by the way, I also met in our math precourse, sort of saying my today's Co founder colleague. Okay, so that's the first connection. So we studied together and business and you know, I was basically, to be honest, the whole PhD s thing. I was a bit younger, done an average, so I started with twenty one and I didn't want to get into work directly. So I thought, okay, how can I extend the good student life for a couple of moviears, Um and and and and honestly, you know, that did the PhD, but that was, you know, I would call it a very practical PhD. And Look, that's actually where I met through because, you know, Adrian, who basically I met in university, went to McKenzie, another consulting company, and that's how we met Third Co founder, through the Mckinsey Network, because those guys met at a coffee machine, Um, and actually report from, you know, doing slides for you know, big corporate companies, and you know, that's a bit how the circle in terms of how the three of US connected. King and Um, yeah, look, I think Humen's management consulting. Why did the hell did I go there? Um, look, I had quite a big passion for renewable energy, for actually alternative energy, for you know, there's a lot of movement, a lot of obviously, Um, you know, great technology development. That was actually in Israel, Um, working on solar energy powers towers. So there...

...was one tower of technology. Then, you know, in some Paulo we were working on a project where we would actually built across the whole Amazon as a high voltage grid, so basically once half through the whole country and so on. So I loved I loved the whole energy sector. Um, I didn't love the management consultant part. Too much dope and, as a result, you know, like four years down the road in the big corporate doing tons of projects. Um, you know, I met again with the two guys who actually did, you know, Darry McKinsey stuff, and we met for a beer and we figured we're all kind of tired from drawing slides and from doing, you know, consulting, but actually want to try something or else and own our decisions and somehow, you know, get get our own ideas into into real life and not just on a powerpoint slide. So hence, you know, we we more or less all embarked on what you would call classical leaf for six months, and during those six months we, you know, uh, this is by the way, this is two thousand and twelve in terms of timeline, right, and the whole German ecosystem for let's say startups and the venture capital in general was pretty at its infancy, all right, and you know, we were we were having our sort of package of ideas, um, of what we potentially would want to be able to do. Um. And when they met different, you know, incubators in Berlin, Um, you know, exchanged the ideas and one of those, Um, you know, is very familiar character, at least here in Germany. Internationally probably also known under the name of rocket Internet. So we met with all of Zamba, Um, and he basically told us, look, I don't like your ideas, but I kind of think you guys could be kind of a cool a cool team. And you know, we kind of went into that whole craziness office and thought, Hey, look, this guy hasn't done tons of successful companies in the past. Um, you know, one of the most famous serial entrepreneurs we we had, you know, back in time, probably still now in Europe. So with him, Um, we started our first company called drop gifts. Okay, this is how we entered. It was more or less a idea that had rocket Internet brought forward and it was all about social gifting. Um, I'll spare you the details because it failed miserably after four months, Um, and after four months, you know, there was one realization, which was, you know, a lot of the consumers actually were trying to somewhat interact with our product, which basically would enable, you know, through facebook, to get access to gift cards that you could send to your friends. Um, we figured that they didn't want to send gift cards with our friends, but they actually want to deem the cards themselves on our platform. And hence we stumbled somehow through this experience, into the whole area of loyality coupon and gift cards and cash back. So it was more or less, you know, we stumbled into this. It wasn't you know that we went and found a miserable, you know, a problem that we had to solve for the world. But you know, it was a big coincidence. And here we go. You just met a guy who said you straight in the face, I don't like your ideas, but I think you're a cool team, and you went with him. I would have loved to be a fly on the wall during this conversation. Okay, I see. And that was the time a global savings group was born, just in Germany. Um, even though I realized you guys uh, did quite a lot of acquisitions over time, but that's something we'll get to. What was the basic approach? You started with Um for the lead?...

Did you already start as a lead generator for merchants, for brands? Yeah, absolutely. So the basic approach we took Um. You know, again, we would like to highlight this was twenty twelve when we started Um, so to say, this adventure. Twenty twelve. The concept of break was massive. So Brazil and Russia, India, China. So the first the first thing we did was we looked into the couponing space, online coupons. Okay, so literally, to explain it very briefly, it's a concept where you literally, as a consumer, get access to Um, you know, the best online coupons from a wide variety of big brands and you can redeem them and check out and thereby save some extra months. And we started with that concept in Brasil and in India and we piloted to their launched the product, tested it and wanted to get a feeling Um, if we um sort of get to good traction there, because in Europe our feeling was that the whole concept and idea is pretty saturated. Um. And look at what happened was we got very quickly a lot of traction. Um. We felt that from day one the whole market. All right, when you talk about the wider market in this space, you know and there's you know, unfortunately not a great terminus to coin the space. But you know, I would maybe call it Um, you know, intent based media, if you want to use that. Awarding or commerce content, it's another way to describe it. But literally we figured that this whole space is highly fragmented. So there's tons and tons and tons of small sites competing in every market, but there's not like a lot of big reputable companies doing that. In the US, we saw this like one or two, you know, major lighthouse Um sort of say brants and sites that were already out there, such as recruiting rewards, and they served a bit as a role model for us and and hence you know, what we did was we started and break when we're very successful in Brazil, in India, partially in Russia. Didn't do China, and then, as we took the learnings, we rolled it out across all of Europe and in two thousand and eighteen we even went out into the US Um, where we're not active as well. M M, I see. See. So basically you started the company in Munich, but here was at first not your main target. Are you still active in India or Brazil? So yes, we are active um in those markets. Um, and you know we're we're active with our own websites, but we're also active and this is, you know, one, one, one important angle. I wouldn't call it another pivot, but it was a great addition, which was at some point we realized that, Um, there was a lot of value by actually partnering up with the largest media companies in every country. So, with other words Um, what we do as part of our business is that we have strategic partnerships with the largest nationwide media publishers, such as I G and result or Um, you know, one time, one times in India, and in India and Um. What we do is we actually host our white label solutions, a white label product, within their overall system, connected very well with their audiences, and actually offer deals, discounts, coupons for these publishers. In the US, you know, it's with a CNN, the business insider. So really we look for the large nationwide media publishers that have a lot of traffic and audience, and that has worked incredibly well. It's a great new revenue stream for media companies to basically finance journalists and hence something.

That why I don't like the world affiliate, because it's, you know, even media companies are doing affiliate as one revenue stream and and that's, I think, how, in general, the terminus of affiliate needs to be perceived. It's a way to sort of say generate Um, to say a revenue, and in a way to monetize. It's a monetization description, but it's not a good way to describe a business model. And and hence, you know, look at these media sides. Um Our media partners have been a fantastic have been fantastic for for both sides to to scale foot or the business um within Europe, but also, you know, as I said, in the US M H. I see. So basically, there's UH, would you say your competition is still very much factored. So yes, I would say it consolidated a lot. So the entire market is consolidating, which means, you know, we're we're by far G G today in this space. Is By far in Europe, factor factor five to tend the largest player Um. So that was, you know, when we started over time, seeing this you know, fragmented, set up the opportunity that we saw by actually combining it, the professionalizing, by making sure that the content that we also provide is howly created, it is high quality, and thereby provide great experiences for consumers, but even more important, to create a lot of trust for the advertising brands that collaborate with us to ensure that they feel that they're getting, you know, relevant traffic, traffic that is trustworthy. Um, and I think that was that was very important because, you know, if you have tons and tons of small players, it's very hard to control that. If you have one big player or a couple of big players, it's much easier to collaborate, also for big advertising brands such as, you know, I K and Ebay and all the ones to give to mentioning before. So, Um, it's it's a shop as reward. And I realized you actually, you guys are big in Europe, but not es global savings group. Um, you do different stuff, like in different verticals, on different levels, however you want to call it. I found it interesting that you bought several companies. So you're driver of the market consolidation. T fift I am both in the Netherlands. Um, UK Pouch, which is a browser extension. I found this very interesting. Um, twenty French cash back company. Um, how ISA pronounced? I would pronounce it. I grow. Yeah, yeah, and bought shoop Berlin based company, and with all of them you kind of got different products. So in the UK you're mostly active as pouch Um and in friends you're mostly active as egual. How does this all work together on one or another level? Yeah, you know, that's a great question. So I think one way to structure is Um and make it a bit more simpler to understand is you can literally say there is a one common denominator, which is our products are there to help people have, you know, a better life and particularly by helping them to save money Um and do that in a very fast and effective way, and that that that's a common denominator for all products. And on the other side we have a common denominator, that we work on the advertising side with the same type of brands very specifically. Now, how to structure this further is you have two different layers. So we have a B to B and a BBC sort of same portfolio. On the B Two B side. We talked about, you know, media companies, which whom we're partnering up and where our product, you know, is a wide label integration um for the benefit both of you know, news publishers, so they can also monetize their existing audience is better Um,...

...while while we actually add that to the advertisements and we're adding to that product portfolio. All right. So right now we just deployed another product, Um, for news publishers. Um. It's it's sort of say, a product recommendation element where, together with the editors, we're writing the best deals, we're writing about your five things. You know that you should have um as you kind of moved back into a Home Office or move away from Home Office. So there's a lot of product recommendation topics that we're working at Um together with media companies. And on the other side, all right, there is the whole bachoc portfolio that you were talking about Um, which you know, Um are sites that are running under their own brand Um, and what we do there is we're really trying to consolidate the market for cash back slash reality. That's how we call it internally, but in essence what those brands do is very similar, all right, and it doesn't matter if the touch point is a browser extension that automatically helps you to never forget your cash bag or that automatically, you know, applies to best coupon. This is what we do. For example, we pouch, Um and Um we have exactly the same type of browser extension on the cut, and what we're doing is we have one technical platform that basically powers these different products and Um, in essence, the user experience is, however, you know that the core idea is, as you go and do your shopping, you know, we give you part of your money back, right, that's in essence of cash back experience and a lot of the experience today is like that and we're building on top to actually make sure it's more than that in the future. Um. So we really want to make sure that whenever you go shopping, it doesn't matter with which brand will reward you. Okay, it could be in the form of a cash back, it could be in the form of points, it could be in the form of, you know, giving you some exprat coupon in some extrat gift cards our. That's our true ambition, Um, when when we think about this, so it's a B Two b portfolio with news publishers and on the other side, or a PTC portfolio and in combination. All right, we're particularly in Europe, but also in the US. Um, you know, driving over two to three billion of GM v for our advertising brands. So we're really our vision is in this space to build a smart alternative to the current Patha channels Um, so literally, you know, a true alternative marketing channel Um, where brands can sort of say, invest in a new customer acquisition, but particularly this is pretty important in how to convert their existing consumer base better. Okay. So I think if you think about us, one thing to differentiate is a we're not doing classical advertising. Okay, we are not these guys with all of these different, you know, click banners where nobody knows anymore where to click and all the fatigue that comes with it. Okay, that's not our business. We're also, you know, not like you know social media platforms, where you go for entertaining and then suddenly you click on any link and end up right. That's also not our business. Our business is very much value driven for consumers. So people come and don't even perceive it as advertising, because if you take the cash ferver coupon, you don't perceive it as advertising and the other pieces. People come to our sites to shop. They don't come for entertainment, come for shopping and it's very intend, we may add, for our audience that G M V is gross merchant value, so that is not your revenue, but basically all of the merchant on the platform, what they in total generate on revenue on this platform, and then you get a share of that. Correct. Huh, great, and when one more question before we check that box. You talked about one technology platform and your business with the publisher prants is also connected to that. That's correct. That's that's exactly what we're...

...doing. The way we look at it is every experience that we are able to build and that helps consumers on either the B twoc side or the B Two b side. We directly want to be able to replicate it left or right because it adds value. So it's it's, it's it's exactly as you say. We're working towards one integrated platform where sort of say, we can exchange content offerings as we fit. Um, I was wondering when we talked about the acquisitions. Um, you had some funding, but it was not even eighty million. The last time I checked crunch base, very interesting investors at seventy nine million asked. Obviously was and I was wondering how you funded those acquisitions. Do you have, Um, one big fund that actually is interested of helping you to consolidate, and this is the buying build, building by strategy, or are you actually, Um, using your own proceeds out of your operational cash flow? Yeah, I know, a great question, and so what we're doing is we're doing a combination of things. So, you know, there's not like one fund Um that so saying helps us, but it's a combination of equity from either, you know, insisting shareholders, Um. There's quite some depth that we normally also leverage. Um. So we work with different banks, Um to actually facilitate transactions. And then there's our operating cash flow, given that the company is profitable, that we're utilizing. So a combination of those three plus, you know, for some of the deals we obviously also have a share package. So we can also do it exchange and shares, and that's the mix we're using for our acquisitions in the past and, to certain extent, depending on the size of acquisition, the mixers Um. So that's a bit how you can think about. So far, what I could find, you have funded until series D and your investors include global general capital TRP, global HV capital group and six rocket Internet DT C P. New Enterprise Associates and headline. Is that correct? Did I forget somebody important to that? No, no, you haven't forgot anybody. It's more that there's one or two who we um sort of say, no, we're not the newest. You know, it turn down figures down the round. So we have one or two who basically left the CAP table. Okay, that either we founders Um bought out or other investors bottom out. Um. So classical secondary transactions. Um. The rest of the name descrict audience. Secondary transactions is when you just self shares, basically what you usually do. Um as a VC. You Invest Money, you get additional newly created chairs, but the secondary is just handing over shares, very simplified. Um. I was interested in your expansion in Europe and Dus. I realized you are market leaders in France, UK and Germany. You're active in more than twenty countries. That would have found especially interesting is you had a press release in April two. You hired a c Teo, a CFO, a CMO ahead of HR and a PR director. Um, and they had experiences from companies like Slando Free, now Scout, twenty four, fla, corney West Wing raccruiting and Inno Games. That actually is an indication that you prepared for another level of scaling. Is that true? So yes, Um, the you know, what we felt was that the opportunity in this space,...

Um, a lot of it, we believe, is by, you know, building out organically the business, and we're now seven dred people, right, Um, and on the other side, by actually managing further acquisitions through M and a and the what we felt is that we're coming to a critical moment where, in order to grow the business further, both organically and doing further m and a, we need a you know, we need to complement the existing team with additional, Um, sort of say, very experienced teammates, Um, and thanks God, Um. They are proven to you know, basically helping us on every all these dimensions and and and enhance. You're completely right. So we were looking forward to grow the business and strongly further over the next three years and, you know, also making it professionalizing it further on every dimension, right, be it be it on on the fining side, be it that we believe that our product and tech efforts, you know, as we integrate more companies, things don't get simpler, right, building that platform concept requires quite a lot of experience so you don't be lost, and we do believe that the space is in heavy need for innovation. Okay, so hance, we brought in people that also bring a lot of experience. When companies such as Kanana right, that has been quite interesting company, innovating over you know, different over many years now in the fintech space, right, and we felt that it would help us a lot to sort of say potentially also go further from where we are today in terms of how we look at the product, to expand also in other areas, and we brought this other into the company and definitely feel that this was much needed and is helping us a lot now over the next three years to hit say, the next escurve, if you want to call it them. So far, Um, you've reached twenty plus markets. I took from a website. Four hundred million visits annually, eleven plus million members and three million transactions a month. This is pretty big. But, as you said, you want to grow organically and are you also open for companies that currently are hit hot by corona if they want to sell themselves? Would you be open to look at potential acquisitions. Yes, so, in general we're very open to continue to buy and build strategy, which means Um, you know, companies that are active in our space, in an adjacent space, are, you know, our stay companies. We would be happy to look into Um, you know, independently if they hit by corona or if the general feel it's a good moment to potentially take an next adventure, or they look for, you know, a professional partner. So, you know, in the past we've seen that different narratives. Why? You know, companies also want to potentially engage with us in a cell or in a strategic partnership. So yes, absolutely right. We're more than more than happy to have a look at, you know, companies that feel like they could add to our journey and where we could add to their journey. And let us now change a little bit of perspective, because we always talked about the lobal savings group, your platform, your expansion plants. But let us take a step back and take the view of a potential customer, because we already heard the big names like Adidas, like Kia and so on, the big corporation partners like CNN, L P S and so on. Um, what size does a merchant have to be in order to make sense to join you, and what can they expect from a partnership with you? Guys learned it's a great question. So in...

...general, you know, it's it's we don't limit by definition, per by size. Right. I mean the way to think about it is we're performance marketing channel, which means you only pay if the transaction happens. So your risk to work with us, as in creatively low and you know, depending on your specific problems, that you want to achieve. Right. I think the essence of what we always say is we're really great and generating sales and writing conversions for our partners. That's that's sort to say a bit. Our use P comfert to other channels in terms of what they can expect like. so no size, predere or per se. Okay, we always look at the partner individually and you know, and you know I can tell you, we have, on average, if you take a country such as Germany, France, Spain, right, we partner up with up to three thousand, four thousand different advertisers. All right, so we cover quite a variety um in terms of, you know, smaller size companies as well as the bird, very big guys, Um, in terms of what to expect onboarding on our platforms, incredibly simple. Okay, there's not a lot of work to be done. I think the course thing is to have a really good chat up front. What to expect. In other words, Um, what problem do you want solve? And you know these can come from, you know, the classic ones that you know customers come and ask us for. Right, it's new customer generation, is a reactivation of customers. It's about, you know, making sure that we get sort of say, more conversion. We'd use the card demandment right, all these kind of classical problems that you know, I would say, every e commerce site works on and and depending on where you stand, you know, Um, you know, we have different solutions for it across the product portfolio that we offer. Um, what to expect? What we normally see is quite a big chunk, depending on how we set it up. What we can deliver is, you know, like new customers, is some and we always obviously optimized for but also we see only departments that worked with us get, you know, up to twenty of basket UPLIFTS, because we try to optimize for campaigns in that direction. By actually, you know, triggering cash bag at certain limits or insane with coupon codes. Um, we can trigger specific product categories you are particularly interested to sell that. Maybe you know you currently have an inventory and you want to get rid of big topic at the moment. Right, if you think about it, everybody did. They're forecasting on inventory based on Corona Times Um, and now e commerce this year is far off from the Corona quae times right. So consumer confidence that's got quite a bit. So a lot of our current discussions clients is how can we help to get that inventory out? Okay, and hence also, for example, like Friday will play in massive role this year. I hear a lot from the e commerce side, from the merchant side, from the brand side. They have problems to get all the inventory. But if they already secured it for Christmas, Um, you're the guys to talk to when they actually want to sell it. And out of curiosity, do you also see certain peaks like Um Emerson made now up their own shopic holiday in summer, like prime days, their cyber Monday plaque. Friday week also getting popular here in Germany. And then you're together and of course Christmas, like like the biggest Um holiday, the biggest commercial event that we have, especially in Europe. And do you see certain peaks there? Absolutely so. For us, Um you know before, is by far the most important quarter of the year and exactly out of the reasons that you just said. Right, there's Um, you know, on the one side, like Friday, that is by now a not only pure US event. I mean it basically traveled from the US to brasilve a massive topic in Brasil by now. Um, it's big, you know, I would have never...

...expected it, but it's big by nows in Germany and France and Um, you know, all all greatly advertisers and pushing that. Then you have eleven, eleven, let's not forget about that, particularly when you think about, you know, Southeast Asia. It's it's a single state, right, and it's the eleventh of November and it's single stay and kind of version where you give other singles a little bit, I would say, like Valentank's Day, as it is celebrated more in the US. Yes, I would say it's a good and fair description, right, and it's basically driven by Ali Baba and look crazy, crazy, you know what happens on that day as well. Right. So I think it's fair to say you know P Four. It's massive. Right, it's by far the biggest season. Peak summer period is normally the slower right. So that's that's also very clear. You know, good weather, Um, it doesn't help. And then you literally say you know everything. You know other's Day and you know all those Valentine's days and all of those classical days. A definitely also more. You know, we can see them as well. I see see. So it's very seasonal, very regional. It's also something we see in our podcasting. As you said, a good weather is not good for podcasts, for Internet radios, that we grow usually very slow or not at all, and then it really picks up and of September, beginning of October and it gets really red burning hot between end of November and Christmas and then break, complete break. Yes, I would have had a lot more questions, but we were recording for already more than thirty seven minutes, which is more on longer side for our interview. I just want to wrap it up, Um, with two additional questions, number one and that maybe three. Number One, are you guys currently having yes, we are. Um, you know across across many roles. Um. You know, we're very flexible in terms of our working policy. So that's a lot of remote working possible, have working possible. So absolutely have to look at our sites. Um. You know, is quite particularly engineering roles as usual, but also, you know, across the board, Marketing Editors Story. There's just starting going off here and they're testing it um here. Really sorry about that. And the second question. Are you guys are looking to add additional investors to the circle of investors so that right now we're you know, we keep on being profitable, Um, and that doesn't mean that we are not, you know, given also our M and a ambition, is always on the lookout for, Um, you know, sort of additional fund name when it comes down to M and a. So yes, the answer is yes, Um. But you know, driven out of our buying built strategy. Right. So only thing left for me to say. Everybody would like to learn more, you can go down here in the show notes, have a look at your linkedin profile at the company website and Um, everybody who would like to learn more can reach out to us and we will have you back in the interview let's say next year, when we announced the next big acquisition. Fantastic you're looking forward to it. Totally my pleasure. I have a great day. Bye. Bye. Thanks a lot for having me here. That's all. Fuls find more news streams events at interviews at www. Let's startup Red Dot Ile. Remember sharing is carry.

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