Dubai-based Cobone.com has once again changed ownership, a year after being acquired by Tiger Global Management.
The website’s new owner is Middle East Digital Group which has ExpatWoman.com in its portfolio. The company has acquired Cobone.com for an undisclosed sum.
Cobone was acquired by Tiger Global Management after months of speculation last year and the deal was predicted to be close to $40 million.
To date, Cobone has sold 2.6 million coupons, saving its 500,000 unique users more than $172 million.
“I had been looking to develop e-commerce for ExpatWoman,” said Jane Drury, the chief executive of ME Digital Group. “We haven’t had any e-commerce on the site at all and I was looking at ways to introduce that, and then Cobone came on the market quietly this year and it was a case of being in the right place at the right time.
Jane Drury founded ExpatWoman.com in 2001 and has established the site as a major international hub and community resource for expatriates, primarily in the Middle East and now extending to Eastern Europe and Asia. ExpatWoman.com had over 37 million page views and 4 million unique monthly visitors in 2013 alone and has a readership spanning over 225 countries.
Last year post acquisition there were some redundancies at Cobone.com, however this deal will not impact any staff.