Date:12/10/11,
Corporate Announcement,
Within a year of Groupon's acquisition of Sosasta. com, a daily deals site, the founders of Sosasta.com have left the company for other entrepreneurial ventures.
Ananya and Udayan Bubna started Friday Media, a digital media start-up in 2009 which owned Sosasta.com. The company was acquired by Groupon, the Chicago-based daily deals site. In the recent past, Groupon has lost many of its top management in India and abroad.
Ananya Bubna, who was appointed CEO, Groupon India and his brother Udayan Bubna who was COO, Groupon India, left the company in August to float their own e-commerce venture. Still in stealth mode, Ananya Bubna told ET that the launch is due early next year. The brothers will still serve as directors of Groupon in an advisory role till then.
"Our venture is not going to be similar to what Groupon does. But yes, it's an internet company and has commerce involved. We have seen a lot of investor interest and we are very excited," said Ananya Bubna, who is busy interviewing candidates for his new company.
Ananya and Udayan Bubna started Friday Media, a digital media start-up in 2009 which owned Sosasta.com. The company was acquired by Groupon, the Chicago-based daily deals site. In the recent past, Groupon has lost many of its top management in India and abroad.
Ananya Bubna, who was appointed CEO, Groupon India and his brother Udayan Bubna who was COO, Groupon India, left the company in August to float their own e-commerce venture. Still in stealth mode, Ananya Bubna told ET that the launch is due early next year. The brothers will still serve as directors of Groupon in an advisory role till then.
"Our venture is not going to be similar to what Groupon does. But yes, it's an internet company and has commerce involved. We have seen a lot of investor interest and we are very excited," said Ananya Bubna, who is busy interviewing candidates for his new company.
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