Dealmates, owner of Dealmates.com and GoMummy.my, has acquired Ilovediscounts.my as part of its continued strategy of planned expansion in Malaysia.
As a result, Dealmates has boosted its current 500,000 members by an additional 250,000 and provided Ilovediscounts.my's members with an upgraded site, which was launched in April 2013, that now focuses on online product flash sales, and improved deals.
The acquisition was seen as an opportunity to grow Dealmates' market share quickly and effectively.
Ben Cadman (pictured), CEO of Dealmates, said he's confident that with the partnership, Ilovediscounts.my will see a 100% jump in revenue beginning April 2013.
Ilovediscounts.my's current forecast revenue is an estimated RM7million by the end of 2013 while Dealmates.com is forecast to generate revenue amounting to RM30million.
Ilovediscounts.my was founded end 2010 by partners Edwin Koh, Andy Teh, Davie Saw and Desmund Hang under Aeterno Sdn Bhd.