BREAKING NEWS

Groupon acquires social buying co Grouper for $8m

By NOA PARAG / GLOBES

JANUARY 11, 2011 20:53

Social shopping company Groupon Inc. has entered Israel by acquiring social shopping site Grouper Ltd. The company did not disclose the size of the deal, but sources estimate it at $8 million, in stages over three years based on Grouper's performance.

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.

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