Groupon Starts Burning Money; Expands to India, Israel and South Africa
A day after closing its nearly $1 billion financing round, Chicago-based Groupon has acquired three daily deal-group buying properties in India, Israel and South Africa. In those respective cities it bought SoSasta, Grouper, and Twangoo. Terms of the deals were not disclosed. Groupon likely decided to buy and not build because of the three companies market share. SoSasta is in 11 Indian cities, Twangoo serves the most cities in South Africa and Grouper was the first to launch in Israel. Groupon now serves 50 million subscribers in 40 countries.
