Digital News Asia is reporting that DEAL Mates Sdn Bhd has acquired I Love Discounts, a move that sees Dealmates, which claims to be Malaysia’s No 1 flash sales site, boost its current 500,000 members by an additional 250,000.
I Love Discounts’ current forecast revenue is an estimated RM7 million (US$2.3 million). The terms of the deal were not disclosed.
I Love Discounts was founded in 2010 by partners Edwin Koh, Andy Teh, Davie Saw and Desmund Hang, as Ilovediscounts.my under Aeterno Sdn Bhd.
The agreement was signed between both parties in February 2013.
Malaysia, Kuala Lumpur