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Groupon buys Russia's Darberry Inc

Posted by Editor on Monday, 23 August 2010 07:31 | Published in Retail & Consumer Goods

Groupon, the US bargain hunters web site, has acquired the Russian copycat Darberry Inc which operates the DarBeri site. Groupon plans to rebrand the business under its own name and website design. The terms of the deal were not disclosed. Groupon -- a combination of "group" and "coupon" -- helps buyers band together for group discounts from retail and service companies, who agree to the deals after a critical mass of buyers has been reached.

The brainchild of former University of Chicago graduate student Andrew Mason, the company has grown rapidly since it was founded in November 2008. It received $1 million in seed money from Chicago technology entrepreneur Eric Lefkofsky and now has more than 13 million subscribers in 29 countries, and over 1,200 employees worldwide.

This year, it raised $135 million, much of it from Digital Sky Technologies, the Russian investment fund that backs Facebook and games company Zynga.

"We are focusing our people and capital on markets with the largest return on investment and these markets represent a tremendous global e-commerce opportunity for us," Rob Solomon, president and chief operating officer, said in a statement.

DarBeri operates in Moscow, St. Petersburg, Nizhny Novgorod, Ekaterinburg, Novosibirsk, Perm and Kiev.

Groupon buys Russia's Darberry Inc