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March 10, 2013 03:47 am GMT
![cobone2[702]](https://tctechcrunch2011.files.wordpress.com/2013/03/cobone2702.png?w=100&h=70&crop=1)
After months of speculation that its backer Jabbar Internet Group were shopping around for a sale, the leading Middle Eastern daily deals site Cobone has been acquired by investment firm Tiger Global Management.The size of the deal remains undisclosed, though my understanding is that the figure of $40 million thats been touted building up to this sale isnt far off the mark.Furthermore, the acquisition -- which sees Jabber Internet Group exit entirely -- is said to leave Dubai-based Cobone with additional capital to further its ambitions in the region, while its Irish founder and CEO Paul Kenny, along with other key members of the management team, will remain with the company.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/g3nH-5ezstc/
A Big Deal For The Middle East, Daily Deals Site Cobone Acquired By Tiger Global Management
After months of speculation that its backer Jabbar Internet Group were shopping around for a sale, the leading Middle Eastern daily deals site Cobone has been acquired by investment firm Tiger Global Management.The size of the deal remains undisclosed, though my understanding is that the figure of $40 million thats been touted building up to this sale isnt far off the mark.Furthermore, the acquisition -- which sees Jabber Internet Group exit entirely -- is said to leave Dubai-based Cobone with additional capital to further its ambitions in the region, while its Irish founder and CEO Paul Kenny, along with other key members of the management team, will remain with the company.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/g3nH-5ezstc/
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