January 26, 2011, 11:17 AM

Groupon acquires a foothold in Malaysia

The daily deal company buys GroupsMore, Groupon’s latest international expansion.

Lead Photo

Groupon Inc. continues to increase its global reach.

The daily-deal site, which is reportedly moving toward an initial public offering, said this week it had bought GroupsMore, a Malaysia-based online discount service. Groupon did not say how much it paid for the company, which has been renamed Groupon Malaysia.

The Malaysian site, which launched last year, serves two states in Malaysia, including Kuala Lumpur, the capital city. The Malaysian site claims more than 53,000 members who have bought more than 17,000 online vouchers for meals, recreational activities, spa treatments and other goods and services.

“The acquisition of GroupsMore is further evidence of Groupon's strong commitment to working with only the best collective buying sites throughout Asia and across the globe,” says Rob Solomon, president and chief operating officer of Groupon. “We will continue to help shape the way local merchants market themselves in every corner of the world.”

Earlier this month, both Groupon and its main rival, Amazon-backed LivingSocial, each announced significant international expansions with Groupon buying daily deal operations in India, Israel and South Africa.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Anna Kuzmina / E-Commerce

An introduction to online payments in Russia

Russian shoppers use a variety of domestic e-wallets quite often when shopping online, a result ...

FPO

Rebecca Kanthor / E-Commerce

An American view of China's online shopping boom

The astronomical growth of Alibaba's Taobao online shopping mall is hard to fathom from a ...

Advertisement