Groupon acquires social buying co Grouper for $8m
Grouper is Israel's first social buying site allowing friends to join together to make group purchases at discounts.
Grouper will operate under the Groupon label and use its platform. Grouper's founders will likely make several million dollars from the deal.
The acquisition of Grouper is part of Groupon's international expansion strategy. The company simultaneously acquired social shopping companies, SoSasta in India and Twangoo South Africa. Earlier, it acquired three companies in Asia.
Groupon president Rob Solomon said, "Social buying is only just getting started in India, Israel, and South Africa, and we see great potential in all these markets. Groupon is creating and changing marketing by local businesses all over the world."
Social shopping sites enable customers to enjoy discounts by joining with friends to make group purchases.
Published by Globes [online], Israel business news - www.globes-online.com - on January 11, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011
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