June 30, 2012

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.

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