Golflan buys Singapore based competitor GolfGreedy
Golf inventory aggregator GolfLAN has made its second acquisition in six months, purchasing Singapore-based competitor GolfGreedy in a cashand-stock deal.
GolfLAN, founded by Dhruv Verma, offers subscription-based service for golfers to book tee times through the startup without club membership. On GolfLAN’s cloud-based software-as-a-service (SaaS) platform Online Tee Time Organiser (OTTO), golfers from anywhere in the world can book tee slots at over 1,000 courses across 40 countries, apart from finding golf equipment and trainers.
GolfGreedy will become a part of the GolfLan group but will continue to operate under its own brand name.
Dhruv Verma, founder and CEO, GolfLan said,
“Singapore is an important golfing destination in Southeast Asia. And golf, as an industry, is also growing rapidly. This transaction clearly establishes our leadership in this region and industry. Golf lovers, through us, will get a host of choices to book a tee time and also experience a range of our world-class services.”
Gerald Koh, co-founder of GolfGreedy said,
“We are excited to be a part of the GolfLan family. We started as a golf course aggregator to help golfers pursue their passion to get a good round at reasonable prices. Today, we are still very much focused on doing that, albeit with more intelligence built in so that we can add value to the customer’s golf search and booking journey.”
With this acquisition, more than 10000 subscribers of GolfGreedy, mainly from Singapore and nearby regions, will get access to all the golf courses on the GolfLan platform. Club operators registered with GolfGreedy will be able to use GolfLan’s superior golf cart management system and tee-sheet management solution.
Sunil Goyal, founder and CEO of YourNest, an investor in GolfLan said,
“GolfLan is on a high growth trajectory with an energetic founding team that thinks long term. Our team has been actively engaging with Dhruv and team, as they work towards their goal of being the world’s best tee-time aggregator. We are thrilled to see them grow fast and are confident that they will drive further technology disruption and innovation in the golfing market.”
GolfLan currently has 1,200 courses across 40 countries on the platform and is looking to expand it to 2,000 by the end of 2017. High tick et sizes in the business allow for steady gross margins which GolfLAN claims are in the range of 25-30% where the average ticket size is around $40 for tee bookings.