GoNabit nabbed by LivingSocial

Middle East group buying site has been acquired by global daily deal company with 30m members

Tags: GoNabit (www.GoNabit.com)Group buyingMergers and acquisitionsUSAUnited Arab Emirates
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GoNabit nabbed by LivingSocial Dubai-based Middle East group buying site, co-founded by Dan Stuart and Sohrab Jahanbani, has been acquired by global group buying network LivingSocial.
By  Georgina Enzer Published  June 27, 2011

Global daily deal company, LivingSocial has acquired Dubai-based Middle East group buying site GoNabit, as well as Thailand and Philippines-based deal site Ensogo; and DealKeren, an Ensogo company based in Indonesia.

LivingSocial, based in Washington, is a daily deal company and Facebook application developer, with around 30 million subscribers.

With these acquisitions and the introduction of daily deals in the Netherlands, LivingSocial now operates in 21 countries across the world and spans six continents.

"As with previous acquisitions, LivingSocial has again chosen to align with local companies that possess similar values and ways of doing business," said Tim O'Shaughnessy, CEO and co-founder, LivingSocial. "We are excited to enter the dynamic Asian market and our presence in the Middle East and the Netherlands further strengthens our strategic global efforts to bring LivingSocial values to members across the globe."

GoNabit was one of the first daily deal sites to launch in the UAE, in January 2010, and is one of the leading daily deal websites in the region. Founded by Dan Stuart and Sohrab Jahanbani, the company pioneered deals that are family friendly, with Dubai Family, and developed travel-specific deals through GoNabit Getaways. GoNabit was also one of the first group buying companies to offer deals in Arabic. According to LivingSocial, GoNabit members in Abu Dhabi, Amman, Dubai, Beirut, Cairo and Sharjah, Ras Al Khaimah and Ajman have saved more than $5 million in the last year.

The acquisition marks LivingSocial's first steps into the Middle East market.

"GoNabit's acquisition by prominent local commerce player LivingSocial demonstrates not only our achievements as a homegrown group-buying website, but also significant maturity in regional e-commerce. Under the LivingSocial name, we are committed to bringing great deal experiences to our customers and savvy marketing options to our merchant partners. This acquisition gives us the opportunity to bring world leading group-buying expertise and the latest in technological developments to e-commerce in the Middle East," said Dan Stuart, CEO and co-founder, GoNabit.com.

Ensogo, LivingSocial's second purchase, is one of the largest social shopping sites in Thailand, the Philippines and Indonesia and has around 800,000 members.

According to LivingSocial, Ensogo members have saved over $25 million in the past year. Ensogo is backed by Rebate Networks, a leading international VC specialising in the social commerce space.

Terms of the deals have not been released.

2605 days ago
Vinod Mehra

I suppose this is one of the fastest acquisition in the GCC region. The competition is heating up in the group buying space and its the right decision and right time for Gonabit to capitalize to on their sweat equity. Welcome Livingsocial

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