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 p.deleon
Jordanian media company Jabbar Internet Group has taken full control of Cobone.com just shy of its first year anniversary this August. Founded by Paul Kenny, Cobone is currently billed as the Middle East’s largest daily deal website with 600,000 members across five countries and reportedly over $13 million dollars in savings. The deals offered range from restaurants to hair salons, from luxury health and beauty spas to adventure experiences and much more. Cobone raised an undisclosed amount of second-round funding from Jabbar, after the company bought out a minority shareholder, and this additional capital and takeover will allow Cobone to grow significantly.