The document analyzes growth trends in different affiliate publisher categories from 2015. It finds that coupon publishers saw 45% growth led by GoodSearch at over 100% growth. Cashback/loyalty publishers saw 33% growth led by eBates at 80% growth. Comparison shopping saw 5% growth with Pricegrabber up 35% and Nextag down 33%. Discovery publishers like Polyvore, Wanelo, and Lyst saw strong user and revenue growth between 20-44% despite raising significant funding. Other companies to watch include Ibotta focusing on consumer packaged goods and Jet expanding beyond its core shopping site.

1. Affiliate Publisher Trends?
Who is growing? Who is not?
Kyle Schumacher
@schusworld
August 2015

2. Framework
• Coupons
• Cashback/Loyalty
• Comparison Shopping
• Discovery

3. Y/Y Growth
Coupons 45% growth
• GoodSearch >100%
• CouponSherpa >100%
• RetailMeNot 25%
• Savings.com 0%
Cashback/Loyalty 33% growth
• eBates 80%
• Shopathome 0%
Comparison Shopping 5% growth
• Pricegrabber 35%
• Nextag -33%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Benchmark

4. Discovery
Polyvore
• 20M Users
• $22M Raised
• 35% Y/Y Growth
Wanelo
• 11M Users
• $14M+ Raised
• 40% Y/Y Growth
Lyst
• $400 AOV
• $40M raised
• 44% Y/Y Growth

5. Others to watch
Ibotta
• $20M Raised
• CPG Focus
Jet
• Jet Anywhere (Viglink)
• $220M Raised
Groupon.com/coupons
• Impressive SEO

6. Sources, Caveats, & Assumptions
Sources:
1) Proprietary traffic data
2) Public Earnings Announcements
3) Public Fundraising Announcements
Caveats:
1) New, physical products
2) US-based
3) Last analysis from Forrester & Linkshare in 2012
Assumptions:
1) US-Based affiliate spend is $4B
2) $67B US Market