KFit Group this morning announced its acquisition of Groupon Malaysia (NASDAQ: GRPN) to build online-to-offline (O2O) commerce in Southeast Asia. The transaction follows KFit Group’s acquisition of Groupon’s Indonesia business in August and the rapid growth of its new Fave platform. Groupon Malaysia will transition to Fave in early 2017, expanding Fave to cover restaurants, beauty, wellness, gyms, studios, hotels, holidays, leisure, entertainment and professional services. “We are excited to have KFit Group steer Groupon Malaysia to even greater heights. With Joel’s experience in leading Groupon Asia Pacific in the past, we are confident that KFit Group will be able to grow the business. As a strategic partner in KFit Group, we look forward to seeing the company take big strides in the coming months,” Michel Piestun, president of APAC for Groupon, stated in the news release.
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About KFit Group
KFit Group is the fastest growing O2O company in Southeast Asia. Started in April 2015 as a fitness sharing platform, KFit Group has expanded to include various other verticals such as Food & Restaurants, Beauty & Wellness, Lifestyle & Activities and more. Platforms under the KFit Group (Fave, Groupon Indonesia and KFit) have connected millions of customers to thousands of offline businesses in key Southeast Asian market centres. With a strong base in Jakarta and Kuala Lumpur, KFit Group aims to build the future of O2O commerce in Southeast Asia. To experience Fave, visit www.myfave.com or download the Fave app from the App Store or Google Play Store. To experience KFit, visit www.kfit.com or download the KFit app from the App Store or Google Play Store.
About Groupon
Groupon (NASDAQ: GRPN) is building the daily habit in local commerce, offering a vast mobile and online marketplace where people discover and save on amazing things to do, see, eat and buy. By enabling real-time commerce across local businesses, travel destinations, consumer products and live events, shoppers can find the best a city has to offer. Groupon is redefining how small businesses attract and retain customers by providing them with customizable and scalable marketing tools and services to profitably grow their businesses. To download Groupon’s top-rated mobile apps, visit www.groupon.com/mobile.
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