Cobone.com, a daily deal company in the Middle East, has been acquired by investment firm Tiger Global Management. Irish entrepreneur Paul Kenny , founder and current CEO of Cobone.com, along other members of Cobone’s management team including Warrick Godfrey , Pieter Sleeboom, Tahira Khan and Loai Ayoub will remain with Cobone. Terms of the deal were not disclosed.
Dubai based Cobone was founded in August 2010 by Kenny with backing from the Jabbar Internet Group. Cobone.com is the largest deal site in the Middle East region, and has grown its registered user base to more than 2 million customers.
“This deal represents a very exciting future for Cobone as it reaffirms its commitment to the Middle Eastern market and e-commerce industry,” said Paul Kenny . “Tiger Global gives us the international clout and the financial resources to expand regionally and surpass already high customer expectations. Loyal Cobone users can look forward to many exciting developments and innovative offerings in the very near future.”
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