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Network of the Group Buying Bandwagon

Whether the recent news of acquisitions and IPOs is a sign of even better days to come for social buying or just a passing phase, there’s definitely a lot of newcomers hoping to catch the tail-end of this sector’s meteoric rise.

August 1, 2011 2:46 by



Just fourteen months after GoNabit was founded by Dan Stuart and Sohrab Jahanbani in January 2010, it was snapped up by LivingSocial, the world’s second-largest website devoted to daily coupons. The first to cash in on the untapped group buying potential in the Middle East, GoNabit was acquired along with Ensogo in Thailand and the Philippines and Ensogo-owned DealKeren in Indonesia for stocks worth $29.4 million. LivingSocial issued equity valued at $24.6 million and $4.8 million and now it looks like GoNabit is scheduled for a name change, soon becoming LivingSocial Middle East. It stands to gain a number of benefits by becoming part of one of the world’s largest social commerce sites, oh like being able to tap into LivingSocial’s 30 million plus subscribers around the globe.Just fourteen months after GoNabit was founded by Dan Stuart and Sohrab Jahanbani in January 2010, it was snapped up by LivingSocial, the world’s second-largest website devoted to daily coupons. The first to cash in on the untapped group buying potential in the Middle East, GoNabit was acquired along with Ensogo in Thailand and the Philippines and Ensogo-owned DealKeren in Indonesia for stocks worth $29.4 million. LivingSocial issued equity valued at $24.6 million and $4.8 million and now it looks like GoNabit is scheduled for a name change, soon becoming LivingSocial Middle East. It stands to gain a number of benefits by becoming part of one of the world’s largest social commerce sites, oh like being able to tap into LivingSocial’s 30 million plus subscribers around the globe.



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4 Comments

  1. deal of the day site on August 4, 2011 7:48 am

    Thanks for sharing, this is a fantastic blog. Really looking forward to read more. Cool.

     
  2. Carylon from chinese gender chart  on August 12, 2011 10:08 am

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  3. c sections on September 24, 2011 12:09 am

    for the guy who saidlastnightabout costs of steel sheet,it realy depends where you go to buy it, z45 as much assix ninty pounds per metric tonne and standard is around £640 per ton- hope this helps

     
  4. gendeng on October 31, 2011 3:00 pm

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