LivingSocial acquires three Asian daily deal companies
June 29, 2011 by Terence LEE
Groupon rival LivingSocial has acquired DealKeren, a daily deal site in Indonesia, Ensogo, which owns DealKeren and has a presence in the Phillipines and Thailand as well, and GoNabit, a daily deals site operating in five Middle Eastern countries, it announced in a press release on 27 June.
This move into Asia, the first for Living Social, follows Groupon’s own forays into the continent. In 2010, the group buying site acquired similar businesses in Japan and Russia, and rebranded them as Groupon Japan and Groupon Russia.
LivingSocial’s global conquest is fueled by the investment of US$400 million in April 2011 from existing investors Lightspeed Venture Partners, Amazon and others.
Ensogo serves over 800,000 members in Indonesia, Thailand, and Philippines, making it the market share leader in these countries and Asia. The company is funded by Rebate Networks.
GoNabit is the first group buying site in the Middle East and North Africa which also features family-friendly deals and travel offers.
Both companies were founded in 2010.
With the acquisitions, LivingSocial is on track to generate revenue beyond $500 million this year, with a presence in 400 markets and staffed by 3,000 employees.
Find out more about SGE’s research arm: SGE Insights, providing customized in-depth research reports to help you navigate the business of technology in Asia.
About The Author
Terence LEE - Editor
Terence writes mainly about technology trends and startups in Asia. He believes in crafting smart content: Not just a regurgitation of text, but well thought-out pieces that serve the reader using a combination of data, design, narratives, analysis, and visual impact. His articles have been published on Venturebeat, Yahoo!, Straits Times, Today, and The Online Citizen. He also co-founded NewNation.sg, a satirical news site covering Singapore affairs. Engage him on LinkedIn and Twitter.
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