Groupon buys its way into Asia

Collective buying website Groupon is accelerating its push into Asia, launching in a number of key markets via the acquisition of rival sites uBuyiBuy, Beeconomic and Atlaspost.

The acquisitions mean the US-based Groupon will launch its services in Hong Kong, Singapore, Philippines and Taiwan. Its Japanese site launched in August this year.

Terms of the three deals were not disclosed, but the company said it uBuyiBuy and Beeconomic are widely recognised as dominant players in the local collective buying space.

Atlaspost, a popular location-based social networking site with more than 1.2 million users in Taiwan, launched its group buying platform in August.

All three sites will transition to the Groupon brand name and site design in coming months.

“We see enormous potential in the Asian marketplace, and the expansion of Groupon to Hong Kong, Singapore, the Philippines and Taiwan is an important next step,” Rob Solomon (pictured), president and chief operating officer of Groupon, said.

“We’re excited to leverage an incredibly internet-savvy customer base to generate increased sales for local merchants.”

Groupon Hong Kong, Groupon Singapore, Groupon Philippines and Groupon Taiwan will join Groupon’s global network, offering deals to 33 million subscribers in 35 countries.