Groupon Singapore acquired by Fave
Southeast Asian online-to-offline (O2O) e-commerce market Fave has acquired deals-and-discounts platform Groupon Singapore.
Financial terms of the deal have not been disclosed.
The move follows similar acquisitions of Groupon Indonesia and Groupon Malaysia last year. Groupon Malaysia has been fully integrated into Fave, while Groupon Indonesia is set to follow suit in the coming months. Groupon Singapore will see a similar integration by the middle of the year.
Fave Singapore MD Ng Aik-Phong says the group’s mobile-first approach, coupled with a cashless transactional experience, permits customers to discover and access a wide variety of experiences from offline businesses such as restaurants, spas, hotels and theme parks.
Businesses that have partnered with Fave in Singapore include Holiday Inn, Naughty Nuri’s, Pastamania and Shangri-La.
“Fave helps business partners succeed in mobile commerce by providing proprietary business tools and access to a highly engaged consumer audience,” says founder Joel Neoh. Partners can offer promotions and loyalty programs, as well as gain new customers and retain existing ones.