Transaction Summary

  • On 9 November 2011, Quants Financial Services AG, a Swiss investment company acquired a majority stake in grupfoni for an undisclosed amount
  • For majority shareholder Group Buying Global (GBG), a Zurich-based holding company run by Klaus Hommels and Oliver Jung, the transaction represents the latest in a series of highly successful exits from its portfolio of global group buying and private sales operators, following e.g. Markafoni and DeinDeal
  • Management shareholders will continue to lead the company, backed by its new investors

Overview of grupfoni

  • The company operates Turkey’s leading group buying site with 1.4 million members, over 300k followers on Facebook and up to 150k daily visitors
  • To date, the company has sold over 1.4 million coupons in over 7,000 deals in the categories restaurants, beauty, travel, nightlife amongst others
  • grupfoni was founded in June 2010 in Istanbul by Burak Hatipoğlu and Münteha Mangan
  • grupfoni has established a market leading position in the Turkish group buying market despite competition, mainly from Grupanya and SehirFirsati (Groupon)
  • Turkey is one of the most exciting e-commerce markets in Europe with Internet penetration of ~45% and e-commerce usage only 5% of the population the last 12 months
    • Young, emerging Internet population (40% are below 24, over 70% under 34) with relatively low, but increasing purchasing power

NOAH Advisors’ Role

  • NOAH Advisors has maintained a close relationship with Group Buying Global for two years and has worked with Klaus Hommels and Oliver Jung on multiple occasions
  • NOAH Advisors was mandated following inbound interest to acquire the grupfoni
  • grupfoni and NOAH Advisors worked together intensively, exploring options with a number of strategic and financial investors
  • NOAH Advisors acted as exclusive financial advisor to grupfoni and its selling shareholders