Southeast Asia’s online-to-offline (020) e-commerce market giant has today made public its acquisition of Groupon Inc (NASDAQ:GRPN). Groupon Singapore is one of the highly rated city-state’s discount and top deals platform. The new acquisition is expected to play a major role towards empowering the company to boost growth for local businesses across SEA while at the same time enabling its customers make savings.
The recent acquisition of the Groupon Singapore’s business comes after some acquisitions made earlier on. Those were Groupon Malaysia and Indonesian 2016.By this particular moment, Groupon Malaysia is already integrated into Fave, whereas Groupon Indonesia is expected to move a similar direction in months to come. Groupon Singapore will soon be experiencing the same integration into Fave as per mid-2017.
The Fave team has engaged in a lot of progressive activities and it is fir that reason important to recognize that it was the founder of the region’s high end fitness sharing platform KFit. This time round, the main goal is to see to it that innovation is given a major boost and the 020 driven across numerous lifestyle categories in Southeast Asia.
Managing Director of Fave Singapore, Ng Aik-Phong has been quick in pointing out the expected growth for the business which has done quite much in connecting digitally savvy consumers to offline enterprises. Fave has over the years been doing very well especially with fetching a great market share in terms of making huge Smartphone sales.
Fave stands out as being quite unique. Its mobile-first approach brings about a different user experience where users are able to take advantage of the seamless, cashless transactional experience. Holiday Inn, Pastamania, Shangri-La and Naughty Nuri’s are some of the business that have partnered with Fave in a move to maximize profits as well as expand in terms of business size.
At the moment, Fave has gone quite a long way in proving its capacity to boost the 020 market in both Malaysia and Indonesia. Hopes are high that in a short while the team will do much towards capitalizing on Groupon Singapore’s strengths as well as its bargaining power in the market to achieve the same levels of business success in Singapore.
