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.
About The Author
Terence LEE - Assistant Editor
Terence is an online media nut that is obsessed with writing and publishing for the Internet. Recently, he took up photography to expand his repertoire, and hopes to learn videography soon. He has worked in both online and print publications such as The Straits Times, Today, Mind Your Body, The Online Citizen, and Funkygrad. In 2010, he co-founded New Nation, a current affairs online magazine for young adults with a couple of like-minded folks. Terence can be found on LinkedIn and Twitter.
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