Local Group Buying Site looking to sell for Php1.2 Billion
According to a source close to this group buying site, the company has been shopping itself around for a while now. The price tag — about Php1.2 billion in cold cash.
Not bad for an industry that has only been around for less than 3 years in the Philippines.
The group buying site is among the highest, if not the top, selling deal sites in the country and have reported gross revenues in the hundreds of million of pesos last year.
A number of local and international groups have been offered but no one has taken the deal yet. Once and if this happens, the sale could be the biggest ever in the start-up industry in the Philippines.