One of Australian leading group buying service, Spreets was bought by Yahoo!7

20 January 2011 Yahoo! announced purchase of Spreets, one of the most successful group buying web sites in Australia (according Altima Interactive research and opinions of other market participants and observers).

According the official press-release published at Yahoo!7 corporate web site¬†Spreets has 500,000 subscribers and sales of 274,000 vauchers since it’s inception.

The financial terms of deal are not disclosed in official PR, but according to SmartCompany the price that Yahoo!7 pays is around $40 million.

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