Group Buying Site Wanamo Acquired, To Change Avatar To

One of the little known group buying sites, has announced that it has been ‘acquired’  by a venture between the Group Buying Global AG & Harish Bahl (Founder/CEO of Smile Interactive). Post acquisition, the venture is launching (not live yet), which will be the new avatar of Wanamo. wanamo

While Group Buying Global AG is not known yet, the promoters, Dr.Klaus Hommels and Oliver Jung, are early stage investors in Facebook, Skype, Spotify etc.  The same venture also owns, a discount store for premium brands. The exact nature of ‘acquisition’ is not known but we are finding it difficult to understand the value in acquisition as the site hardly has any audience, their is no uniqueness in the product and the team has no proven track record.

Meanwhile, the deals based e-commerce space is buzzing in India and it’s only the beginning. Taggle, another group buying site, recently raised funds, even before launching. Even though it’s a little too early to comment but amongst the ones we covered earlier, SnapDeal and MyDala are emerging as clear leaders.

[Naman is a startup enthusiast and has worked with couple of Indian startups as Product Manager. He is the founder of FindYogi]

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