300 Ideas. 12 Cities. 1 Stage. APPLY your startup for Echelon 2014 TODAY!Organizing an event? Share it with Asia's tech community on e27!Change the world! Over 200 tech industry jobs in Asia and growing
Investment  22, Jan 2014

Dealguru enters iBuy Group’s fold along with Dealmates and Beecrazy

By

The parent company of DEAL.com.sg and MyDEAL.com.my, Dealguru, has announced it has merged with Singapore-headquartered iBuy

Dealguru, parent company of daily deal websites Deal.com.sg and MyDEAL.com.my, has announced today that it has merged with iBuy Group Limited, which is headquartered in Singapore with operations in Malaysia and Hong Kong.

This merger follows the public listing of iBuy, which saw it raise A$37 million in an initial public offering on the Australian Securities Exchange (ASX: IBY) on December 20, 2013. Since then, iBuy’s share price has risen to A$0.375, an increase of 17.2 per cent over its issue price of A$0.32.

Read also: iBuy lists on Australian Securities Exchange; closes in green

This latest merger is only the last of many of Dealguru’s recent developments, which has seen it acquiring and then spinning off online food delivery startup Asian Room Service, launching its second collection point in Singapore, then expanding into the e-commerce vertical, and finally investing S$1 million in peer-to-peer marketplace Duriana.

Under the terms of the merger, Dealguru Co-founder Patrick Linden will serve as the CEO of iBuy Group.

In addition to Dealguru, Malaysian daily deal site Dealmates and Hong Kong site Beecrazy will be incorporated into iBuy as well.

After the merger, iBuy Group will be in possession of an experienced, high performance and well-attuned team of over 300 e-commerce professionals, all operating leading deals and e-commerce businesses across Singapore, Hong Kong and Malaysia, said an official company statement.

The largest shareholders of the expanded iBuy Group are leading international investment firm Catcha Group and Germany’s Rebate Networks GmbH.

With all four deal and e-commerce sites connecting over 138 million consumers to retailers throughout Asia by providing ‘best price’ volume discounts on a wide variety of goods, iBuy Group is moving towards its aim, which is to become Asia’s leading e-commerce group.

Image Credit: Lightspring/Shutterstock

Terence Ng

Terence Ng

With a few failed and unrealized startups under his belt, Terence is no stranger to the startup landscape. He hopes to start something big. Someday. Meanwhile, he is content with bringing the latest startup and technology news to both professionals and lay readers alike.

Work for a Startup

Software Engineer
Ninja Van
Mobile Adv Platform Co-Founder
A_shakehand
iOS developer
A_shakehand
Software Tester
GlassesOnline
Software developer for wealth management startup
Mesitis