For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
The daily deal site acquires majority stakes in similar sites in Japan and Russia.
Groupon, which offers daily deals on food and entertainment in major cities, is continuing its rapid expansion. The company announced late yesterday that is has acquired a majority stake in the Japanese daily deal site Qpod and the similar Russian site Darberry. Terms of the deals were not disclosed.
Both Qpod and Darberry launched earlier this year and will continue to be led by the companies’ founders—Keisuke Seto of Qpod-Groupon Japan and Alexey Chernyak of Darberry-Groupon Russia.
Qpod and Darberry will transition to the Groupon brand name and site design in the coming months.
“The launch of Groupon Japan and Groupon Russia reaffirms our global expansion into Asia and deeper into Europe,” says Rob Solomon, Groupon president and chief operating officer. “We are focusing our people and capital on markets with the largest return on investment, and these markets represent a tremendous global e-commerce opportunity for us.”
The daily deal behemoth says its global network now operates in 29 countries and has more than 13 million subscribers.