Groupon sells Indonesian activities

Groupon has sold its activities in Indonesia to gymstartup KFit. The Malaysian company wants to leave the business model untouched for the time being. With this KFit enters the bargain market. KFit CEO Joel Neoh also comes from that world. He ran GroupsMore, which was acquired by Groupon. Kfit is active in ten Asian cities, including Taiwan, Australia and Korea

Groupon has sold its activities in Indonesia to gymstartup KFit. The Malaysian company wants to leave the business model untouched for the time being. With this KFit enters the bargain market. KFit CEO Joel Neoh also comes from that world. He ran GroupsMore, which was acquired by Groupon.

Kfit is active in ten Asian cities, including Taiwan, Australia and Korea. The company has raised 20 million dollars to date.

Groupon has 1 million customers and 15, 000 partners in Indonesia. The American company remains involved as a strategic shareholder. The acquisition must be completed later this year.