Groupon Announces Continued Expansion in Asia

Acquisition of leading local deal sites widens global footprint, services offered

CHICAGO--(BUSINESS WIRE)--Groupon (http://www.groupon.com) has announced the launch of Groupon Hong Kong, Groupon Singapore and Groupon Philippines and Groupon Taiwan via acquisition of daily deal sites uBuyiBuy (http://www.ubuyibuy.com), Beeconomic (http://www.beeconomic.com) and Atlaspost (http://www.atlaspost.com), respectively. Terms of the deals were not disclosed.

“We see enormous potential in the Asian marketplace, and the expansion of Groupon to Hong Kong, Singapore, the Philippines and Taiwan is an important next step”

The acquisitions extend Groupon’s reach across East and Southeast Asia, joining Groupon Japan, which launched in August 2010. Both uBuyiBuy and Beeconomic are widely recognized as dominant players in the local collective buying space, setting industry standards for quality of merchants featured and customer experience. Atlaspost, a popular location-based social networking site with more than 1.2 million users in Taiwan, became an overnight force in daily deal services when it launched its group buying platform in August 2010. All three sites will transition to the Groupon brand name and site design in coming months.

“We see enormous potential in the Asian marketplace, and the expansion of Groupon to Hong Kong, Singapore, the Philippines and Taiwan is an important next step,” said Rob Solomon, president and chief operating officer of Groupon. “We’re excited to leverage an incredibly Internet-savvy customer base to generate increased sales for local merchants.”

Groupon Hong Kong, Groupon Singapore, Groupon Philippines and Groupon Taiwan will join Groupon’s global network, offering unbeatable deals to 33 million subscribers in 35 countries and saving hundreds of millions of dollars for consumers since the site’s launch in November 2008. Groupon employs more than 3,000 people worldwide.

About Groupon

Groupon, launched in November 2008 in Chicago, features a daily deal on the best stuff to do, eat, see and buy in more than 300 markets around the world. Groupon uses collective buying power to offer unbeatable prices and provide a win-win for businesses and consumers, delivering more than 650 daily deals globally. For more information, visit http://www.groupon.com.