(MENAFN) Middle East Digital Group, the online publishing, content and services company and owner of Expatwoman.com, announced it has acquired the online coupon website Cobone in a multi-million dollar deal, Arabian Business reported.
Cobone, which has 50.000 visitors each month, has sold 2.6 million coupons, which resulted in its customers in both the UAE and Saudi Arabia to save over USD172 million, with the latest acquisition of the site coming after it was previously bought in a USD40 million deal to US-based investment firm Tiger Global Management.
ME Digital Group said that this new deal will result in the website founder to exit Cobone as well as concentrating on working with Safarna, a travel deals website that is also under Tiger's portfolio, and focusing on the development of Cobone's sales portfolio with the introduction of targeted e-stores and enhancing the services.
"Cobone adds significant scale as well as ecommerce expertise to our portfolio, particularly in the areas of transactional and ecommerce capabilities, operations and experience in the Saudi market," Middle East Digital said in a statement.
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