A United States-based commerce site has purchased the leading deal site Ensogo, including its local subsidiary, as part of the international company’s expansion strategy, Ensogo said in a statement on Thursday.
LivingSocial has acquired three companies in all: Ensogo, which has a presence in both the Philippines and Thailand; DealKeren, an Indonesia-based Ensogo company; and GoNabit, a daily deal provider present in four Middle Eastern countries, according to the Ensogo statement.
The new acquisitions brought to 21 the number of countries in which LivingSocial operates, the statement said. The Ensogo purchase was LivingSocial’s first acquisiton in Asia.
“As with previous acquisitions, LivingSocial has again chosen to align with local companies that possess similar values and ways of doing business," said LivingSocial CEO and co-founder Tim O’Shaughnessy.
“We are excited to enter the dynamic Asian market and our presence in the Middle East and the Netherlands further strengthens our strategic global efforts to bring LivingSocial values to members across the globe," he added.
Launched in 2010, Ensogo is one of the leading social shopping websites in the Philippines, Thailand, and Indonesia, according to the statement. It is serving over 800,000 members. — TJD, GMA News
Eleven Filipinos are included in Forbes’ 2015 list of richest people in the world. Filipino-Chinese tycoon Henry Sy Sr. continues to be the wealthiest man in the Philippines. The 90-year-old SM supermalls, banking and property tycoon ranked 73rd among the world’s richest with an increased net worth of $14.2 billion from $11.4 billion last year. Sy’s net worth was attributed to the continued growth of his SM Investments Corp. and his more recent venture, the City of Dreams Manila resort and …