Local Group Buying Site looking to sell for Php1.2 Billion

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.



Abe is the founder and Editor-in-Chief of YugaTech. You Can follow him on Twitter @abeolandres.

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15 Responses

  1. daniel says:

    Oo ang benta ng mga group buying sites… ung ibang deal sa Metrodeal, isang deal umaabot P4.5 million ang nabili. Restaurant, spa etc.

  2. Lovely Romero says:

    1.2B?! How presumptuous!

  3. johnonline says:

    Sulit.com o ayosdito.ph?

  4. mongenius says:

    Now that’s the entrepreneurial spirit. Hoping this climate of confidence in the Philippines continues so that small people with big ideas can capitalize on this.

  5. Soto says:

    Ayosdito and sulit are already owned by corporation. The only 2 options are metrodeal and cashcashpinoy.

  6. Wacko says:

    Multiply?

  7. great says:

    From what I hear Its Metrodeal.

  8. Elbert says:

    Cash Cash Pinoy?

  9. Jp morgan says:

    Living like JP MORGAN

  10. Mr. Curious says:

    ensogo.ph?

  11. Soto says:

    Ensogo have already been bought by Leavingsocial… And metrodeal sold only restaurant stuff. Investors don’t like that type of company anymore. My take? cashcashpinoy.

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