· With a multi-million dollar investment, the Cisneros Group of Companies will spearhead the Latin American expansion of Cuponidad, an online coupon website that provides users a convenient and secure shopping experience.
· This venture is part of the Cisneros Group of Companies’ commitment to be at the forefront of the digital world
The Cisneros Group of Companies teamed up with Cuponidad to launch its online couponing company in Venezuela, tapping into one of the fastest growing territories in Latin America’s $70 billion e-commerce market.
This multi-million dollar venture is part of the Cisneros Group of Companies’ commitment to be at the forefront of the digital world and the e-commerce market, an integral part of the global business plan envisioned by the Group’s Vice Chairman and Vice President of Strategy, Adriana Cisneros de Griffin.
“We have partnered with Cuponidad to offer the Venezuelan consumer a website [www.cuponidad.com.ve] where they can buy services, products and travel packages at great discounts, a convenience we expect to offer all Latin Americans in the coming future,” assured Chief Digital Officer of the Cisneros Group,Victor Kong, from corporate headquarters in Miami, Florida. “We are committed to this venture, product of our corporate philosophy of maximizing the commercial potential of all areas of the digital industry.”
Cuponidad’s Latin American expansion is part of the Cisneros Interactive Group’s digital strategy that focuses on three areas of growth: (1) Digital Advertising, spearheaded by its subsidiary RedMas, which exploits the commercialization of mobile and online services, as well as its proprietary site Venevision.com; (2) Social Games, having created various games for iPhone and Android phones, and presently developing a mobile platform for soccer fans; and (3) e-commerce, investing in Cuponidad, while exploring additional ventures.
Cuponidad was established in Colombia in 2010, becoming an immediate success, registering more than 700,000 users. “That’s why we have joined the Cisneros Group to bring Cuponidad to Venezuela, enabling users to buy a diversity of products and services without breaking their budget, helping them to save an average of 60% on their purchases,” highlighted Joel Cohen, Co-Founder of the online discount store that ensures convenient and secure electronic transactions.
With the launch of Cuponidad in Venezuela, the expansion strategy will now focus on Peru before venturing into other Latin American countries. This discount business model is supported by the region’s steady proliferation of e-commerce, which grew 30% last year alone.
With this e-commerce venture, the Cisneros Group reinforces its core philosophy of continuously evolving with the development of new technologies, fostering alliances to expand its global reach in order to offer better services and innovative products to the world.