Groupon, the online coupon giant based in Chicago who reportedly rejected a $6 billion USD offer from Google several weeks ago, has just bought Grouper, an Israeli company, for an estimated $15 million USD. This is impressive since the initial investment of the business was in the tens of thousands of Sheqels, provided by Grouper’s 3 founders: Dori Hilleli, Dotan Stav and Yuval Karjevski.
The three founders are each expected to earn $4 million each, while Ido Pollak, CEO of the New Media division at RGE Group, may get $1-2 million. Still, that’s no small change.
The online coupon business is expanding at an exponential rate since Groupon’s inception in 2008. Grouper in comparison was founded in Israel in March 2010, less than a year ago, and registered as a company in July 2010. It has since become Israel’s largest online coupon provider, selling more than 150,000 coupons and amounting to NIS 2 million annually (approximately $565,000 USD).
Grouper operates from Moshav Batzra in the Sharon region and, save for Ido Pollack, has no external investors.