Cobone a New Group Buying Startup From Jabbar to Compete with GoNabit

27 Jul, 2010

It seems the growing success of Dubai based e-commerce group buying startup GoNabit has opened Jabbar group appetite to enter the market with a new startup called Cobone.

Jabbar group which emerged after Yahoo’s acquisition of maktoob receiving an investment of 20 million USD from the owners of maktoob includes the following sites: souq (auction site) ikoo ( online ad network) CashU (pre paid online payment card) Tahadi (Arabic games), Sukar ( private e-commerce club)

GoNabit is founded by ex-bayt’s head of its venture arm Intilaqat Dan Stuart and has also received investment from Bayt which is a majority share holder. Here is our recent interview with Dan.

In few words, Group buying works by offering time limited deals, if enough people join to buy the deal everyone gets it, if not, no one is charged. The key is to virally promote the deal across social media and email, which help buyers close the deal and helps the site grow  virally.

Both Bayt ( the leading regional job recruitment site) and Jabbar, has the NewYork based Tiger Global Management a hedge fund as the an investor, Jabbar’s CEO is Jordanian entrepreneur and angel investor Samih Toukan.

(via the nextweb)

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  1. Mazen  |  July 27th, 2010 at 11:52 AM #

    Great article – but pls spell check and grammar check : ) it will make it easier to read

  2. OOIZO  |  August 2nd, 2010 at 12:48 PM #

    Please read the Cobone Review on OOIZO http://www.ooizo.com/?p=72 , it will help you a lot if you are a web developer :) thank you spread the word

  3. Group Buying Startup GoNabit Rise in Lebanon - ArabCrunch  |  September 29th, 2010 at 12:25 PM #

    [...] Related Posts Cobone a New Group Buying Startup From Jabbar to Compete with GoNabit [...]

  4. Jennad  |  July 24th, 2011 at 10:02 AM #

    GoNabit doesn’t really understand the business model in the middle east, as a resident of Dubai, I mistrust credit card payments online and hence prefer websites like Moosavings.com. I think other websites should follow their exemplary example too.

  5. Jabbar Group Becomes Sole Owner of Daily Deals Site Cobone.com, Site Reaches 600,000 Members - ArabCrunch  |  July 25th, 2011 at 2:14 PM #

    [...] Launched in August 2010, Cobone.com is one of the fastest growing group buying websites in the region, it competes with GoNabit which was acquired by LivingSocial and other local group buying sites in the region. [...]

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