The largest daily deal company in the Middle East, Cobone.com was purchased by Tiger Global Management. The international investment firm gave additional funds to the Middle East Company to expand its long term obligations at home.
Paul Kenny, founder and CEO of Cobone.com will keep his position as part of the agreement. He will be joined by Warrick Godfrey and Pieter Sleeboom as the members of the company's management team. They will all work together to maintain and assure the standing of Cobone.com in the major market share and its expansion regionally.
In a statement Kenny said that "This deal represents a very exciting future for Cobone as it reaffirms its commitment to the Middle Eastern market and e-commerce industry. Tiger Global gives us the international clout and the financial resources to expand regionally and surpass already high customer expectations. Loyal Cobone users can look forward to many exciting developments and innovative offerings in the very near future."
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