Cosmos Group sells stake in UAE's 'Nail the Deal' site

Investment firm Cosmos Group said in a media statement on Wednesday that it recently sold UAE’s homegrown website for daily deals, Nail the Deal, for an undisclosed sum.

Cosmos Group was launched by Gaurav Aidasani, an angel investor with a diversified portfolio of investments in digital media, eCommerce, online advertising and digital publishing.

“I am pleased to see the company passing into good hands. The company has been very important to me and I know the new investors have a strategic plan for the firm and happen to be a good cultural fit for Nail the Deal,” said Aidasani.

Nail the Deal has over 5,000 registered vendors, the statement added.

The financial terms of the deal have not been released. “Being able to enjoy over a 300 per cent return on our investment is a remarkable achievement from Nail the Deal and will enable us to reinvest the proceeds into future projects,” said Wadih Haddad, one of the former investors.

“E-commerce is blossoming in the Gulf region, and we are confident that this acquisition will fuel the business,” said Jasim Ali, owner of Jasim Al Ali Group of Companies and the new investor of Nail the Deal.
 

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