Launched in June 2011 in Cairo, DARE'n'DEAL
is a group-buying platform that features a daily deal on the
best stuff to do, eat, see, and buy in Egypt.
In 2012, Darendeal chose BENEFIT Marketing Agency also owner of UGO Guide to launch its official branch in Alexandria. One month later, the first deal from Alex was launched on the platform and boomed by the mega group buying that started 10 minutes later.
OTVentures, a subsidiary of mobile giant Orascom Telecom, Media & Technology (OTMT), announced 51 per cent share acquisition of DARE'n'DEAL, now Egypt’s largest group-buying website after the Alexandria then Jeddah Branch.
Valued at LE20 million, DARE'n'DEAL offers attractive deals on a variety of products and services in return for the customer's registration and their ability to gather the minimal number of people.
Established in 2011, the company, which operates solely through the internet, has rapidly caught the attention of Egypt's retail community.
E-commerce in the Egypt and the Middle East has plenty of room to grow. According to OTventure, the size of e-commerce in the region is a meagre $5.8 billion, though it is expected to grow by one third in 2012.
“The acquisition was just an initial step on the path to executing a more expansive strategy in the field of e-commerce within the Arab region, as well as the merging of e-commerce and mobile technology," says OTVentures CEO, Hanan Abdel Meguid.
In an official statement, DARE'n'DEAL's CEO, Abdel Latif Olama, stated that additional resources – to be made available following the web-based company's acquisition – will enable the online venture to offer as much as LE120 million in discounts for 5.6 million users in 2012.
OTVentures procurement of the company will also boost plans to extend the group-buying website's services to several Arab countries in the Middle East.
BENEFIT is ever proud to be a part of this early e-commerce success story. You can always depend on the experience, credibility and success stories of the marketing passionate company that started back in 1999.