RDE, Inc. (Restaurant.com) Completes Acquisition of CardCash.com, Creating $100 Million+ Incentives Business

Rhea-AI Summary

RDE, Inc. (RSTN) has closed its acquisition of CardCash.com, expanding its cross-selling marketing opportunities and providing Restaurant.com customers with a broader range of discounted gift card options. The combined businesses accounted for over $100 million in revenue in 2023, due to the acceleration of business traction in the U.S. consumer gift card market valued at $300 billion annually. This acquisition significantly increases RDE's market presence and revenue potential.

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, retailers, and entertainment venues.”

Elliot Bohm, CEO of CardCash.com, commented, “We are thrilled to join RDE, Inc.'s platform to offer the country’s largest and most secure selection of discounted gift cards online. There are tremendous opportunities ahead for us in growing the combined business through synergies, cross-selling and additional revenue products.”

About RDE, Inc.

RDE, Inc. (Restaurant, Dining and Entertainment) is a pioneer in the restaurant deal space and the nation’s largest restaurant-focused digital deals brand. Founded in 1999, Restaurant.com, Specials by Restaurant.com and our Corporate Incentives division connect digital consumers, businesses and communities offering thousands of dining, retail and entertainment deal options nationwide at over 184,000 restaurants and retailers. Restaurant.com prides itself on offering the best deal, every meal. Our restaurant certificates and gift cards allow customers to save at thousands of restaurants across the country with just a few clicks.

About CardCash Exchange, LLC.

Founded in 2009, CardCash has generated over $1.3 billion in revenue to-date and transacted with approximately 3 million consumers. CardCash operates a series of websites, mobile applications, and APIs to ensure that customers and partners can buy and sell gift cards confidently and securely. The Company consumers’ purchase of unwanted gift cards from CardCash at a discount, gift cards are digitally delivered within seconds of purchase, consumer presents digital cards as payment at checkout and material savings realized by consumer.

For additional information, please visit: https://www.cardcash.com

Investors Contacts: 
ClearThink
nyc@clearthink.capital

FAQ

What did RDE, Inc. (RSTN) acquire?

RDE, Inc. (RSTN) has acquired CardCash.com, a pioneer in the secondary gift card marketplace, including all of its products and intellectual property.

What was the revenue generated by the combined businesses in 2023?

The combined businesses accounted for over $100 million in revenue in 2023.

What is the value of the U.S. consumer gift card market?

The U.S. consumer gift card market is valued at $300 billion annually.

What are the benefits of the acquisition for RDE, Inc. (RSTN)?

The acquisition expands RDE's cross-selling marketing opportunities and provides Restaurant.com customers with a broader range of discounted gift card options across multiple industries.

Who are the CEOs of RDE, Inc. (RSTN) and CardCash.com?

Ketan Thakker is the CEO of RDE, Inc. and Elliot Bohm is the CEO of CardCash.com.