East-West Digital News 11 April 2012
Just two months after it began serving Kazakhstan, Biglion, the leading Russian daily deal site, has acquired Bongo.by, a Belorussian analog. The transaction was announced yesterday by Biglion’s Development Director Oleg Savtsov in an exchange with Russian business daily Kommersant.
Savtsov did not disclose the amount of the deal, but Kommersant reported that Bongo.by is likely to have been valued at $1 milllion or less, citing unnamed experts.
Biglion was founded in March 2010 amid the ‘Groupon fever’ that hit Russia at that time. Dozens of daily deal sites appeared on the market, with most of nearly exact copies with only slight variations of the American Groupon.com model.