Online shopping deals platform Little Birdie acquired by Cashrewards
Cashrewards has bought shopping deals platform Little Birdie in a move to enhance its position as Australia's top shopping companion. The cashback platform aims to integrate Little Birdie's technology to offer a more comprehensive service to its users.
Transaction snapshot
Deal value: N/A
Deal multiples: N/A
Deal type: Acquisition
Investors: Cashrewards (owned by 1835i Ventures, ANZ Bank's investment arm)
The deal will see Little Birdie's platform, including its algorithms, fully integrated with Cashrewards. This merger will allow users to search millions of products, check price histories, compare retailers, get price drop alerts, and earn cashback on purchases.
Cashrewards CEO Anthony Seymour-Walsh called the acquisition "a major win for consumers in Australia" and "a significant milestone in Cashrewards' growth trajectory".
The integration will happen in stages. The first phase involves relaunching the Little Birdie website and app, aiming to be ready before the Black Friday and Christmas shopping periods.
Little Birdie, founded by Catch creators Gabby and Hezi Leibovich along with CEO Jon Beros, launched in 2021 with $30 million in pre-launch funding from Commonwealth Bank at a valuation of $130 million. The startup paused operations in May 2024, hinting at plans for an AI-powered shopping tool.
Cashrewards, founded in 2014 by Andrew and Lorica Clarke, listed on the ASX in 2020 before being bought by 1835i Ventures. It now has over 2 million members and partnerships with more than 2000 retailers, including Myer, The Iconic, Woolworths, Ikea, Adore Beauty, Cotton On and Birdsnest.
Seymour-Walsh confirmed that "several" Little Birdie employees will join Cashrewards, which currently has 202 staff. The Little Birdie team will focus on re-establishing the product experience ahead of peak retail season.
Little Birdie's existing customer accounts will now be managed by Cashrewards, following Little Birdie's privacy policy. Seymour-Walsh assured that both companies prioritise data security, with Cashrewards using "world-leading encryption technology".
Jon Beros, Little Birdie's co-founder and CEO, said the acquisition will empower Australian consumers "like never before", providing tools for smarter, more informed purchases while getting the best value.
The combined platform aims to benefit both consumers and retailers. For shoppers, it offers extensive product search, price comparisons, and cashback. For retailers, it promises to generate customer referrals and boost revenue by offering value and savings to consumers.
