Southeast Asian E-Commerce Firm Fave Acquires Groupon Singapore.
M2 EQUITYBITES-March 10, 2017-Southeast Asian E-Commerce Firm Fave Acquires Groupon Singapore
(C)2017 M2 COMMUNICATIONS http://www.m2.com
10 March 2017 - Southeast Asian online-to-offline e-commerce market company Fave has acquired of Singaporean deals and discounts platform Groupon Singapore, the company said.
The acquisition of the Groupon Singapore's business follows similar acquisitions of Groupon Indonesia and Malaysia in 2016.
Thus far, Groupon Malaysia has been fully integrated into Fave, while Groupon Indonesia is set to follow suit in the coming months.
Groupon Singapore will see a similar integration into Fave by mid-2017.
The Fave team, who also founded the region's largest fitness sharing platform KFit, is aiming to innovate and drive O2O across multiple lifestyle categories in Southeast Asia.
Fave's mobile-first approach provides a seamless, cashless transactional experience to consumers who live online that are looking to discover and enjoy a range of experiences from offline businesses.
Fave Group started in April 2015 as a fitness sharing platform, and has expanded to include various other verticals.
Groupon (NASDAQ: GRPN) offers a mobile and online marketplace enabling real-time commerce across local businesses, travel destinations, consumer products and live events.
((Comments on this story may be sent to firstname.lastname@example.org))
|Printer friendly Cite/link Email Feedback|
|Publication:||M2 EquityBites (EQB)|
|Date:||Mar 10, 2017|
|Previous Article:||FTE Networks to Acquire New York Construction Firm Benchmark Builders for USD 75m.|
|Next Article:||ExxonMobil to Acquire 25% Stake in Mozambique NG Block from Eni for USD 2.8bn.|