March 1, 2011
Deal-of-the-day website Groupon has officially entered the United Arab Emirates (UAE). Operating under the website www.groupon.ae. The company will initially serve Dubai, Abu Dhabi, and slowly into other cities in the coming months. With UAE, the company now brings its presence into 43 countries around the globe and savings of about $1.8 billion for its members.
Despite competition from other daily-deal sites, including its ex-suitor Google, Groupon has managed to cement its foothold in different countries, using the principles of collective buying that delivers new revenue streams to local businesses. Its massive membership, coupled with thirst for daily deals, is a natural come-on for all kinds of businesses to offer deals.
“Groupon’s expansion to United Arab Emirates is another step in our development as a global Internet brand,” said Rob Solomon, president and chief operating officer of Groupon. “Groupon UAE will change the face of the local collective buying market, leveraging the best practices Groupon has pioneered in more than 40 countries around the globe.”
The entry to UAE came right after announcing its entry to China by launching Gaopeng.com, a collaboration with local-based Tencent.com. What is important here is the potential to tap into the world’s biggest Internet population with more than 457 million users.
The company just recently announced that it has raised an additional $16.12 million in funding led by Ted Leonsis, vice-chairman emeritus of AOL.