Groupon, the Chicago-based, fast growing e-commerce website for bargain hunters, is expanding its foothold globally by making inroads in India, Israel and South Africa.
Groupon puts groups of shoppers in touch with companies prepared to offer bulk purchasing discounts. It allows transactions on collective buying principle, which activates deals only when a minimum number of people agree to buy them.
The company now has Groupon India, Groupon Israel and Groupon South Africa as part of its global network.
"Collective buying is in its infancy in India, Israel and South Africa and we see strong potential," said the company president and COO Rob Solomon, "Groupon is shaping the way local merchants market themselves in every corner of the world."
The e-transaction firm recently acquired SoSasta, a three -month-old e-commerce website with operations in 11 cities.
According to Solomon, SoSasta will become Groupon in brand and site design over the coming months and will serve deals in English in India.
More From This Section
Groupon that was started by chief executive Andrew Mason in 2008, employs more than 4,000 people worldwide and offers deals to more than 50 million subscribers in 40 countries.
The company turned down a $6 billion offer from Google in December. It is now in talks with six investment banks to come up with a public float in the coming months.