Some amount of consolidation taking place in group discount space after emerging in mushroom fashion 7-8 months back. Snapdeal, a group discount site promoted by Delhi based Jasper Infotech has acquired Bangalore based Grabbon, deal value has not been disclosed and it is termed as strategic acquisition by both Snapdeal and Grabbon.
Interestingly Grabbon is the 1st Groupon clone to hit the Indian market and founded by Tony Navin, Jackson Fernandez and Balamurugan all XLRI graduates. Few weeks back i interviewed Jackson, you may check here.
Benefit for Snapdeal from this acquisition- :
- Seasoned management guys who
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