Teambuy.ca and Dealfind.com announce industry-changing merger
TORONTO, Jan. 15, 2013, 2013 (Canada NewsWire via COMTEX) --
Union of heavyweights creates largest Canadian deal site
TeamBuy.ca and Dealfind.com, two of
Canada's leading e-commerce companies, are pleased to announce a
transformational merger that creates Canada's largest online deals
The transaction the largest 'daily deal' merger in North American
history brings two of the strongest brands in the industry together to
offer an unrivaled array of unbeatable deals to over 3.5 million
members combined including a million throughout the United States. Both
companies began as 'deal-a-day' sites, evolving rapidly to become
leaders in the broader flash sales and e-commerce space across various
"From a consolidation perspective, this merger gives us a rock solid
foundation where one in every 10 Canadians is signed up to our
service," says Ghassan Halazon, CEO of TeamBuy. "Over the past few
years, both TeamBuy and Dealfind have chosen to re-imagine the original
daily deal model in very similar ways. This makes the merger a perfect
fit from an operational standpoint."
The two brands will continue operating separately throughout early 2013,
after which the sites will be integrated under a single banner and a
newly minted website will be unveiled. Halazon continues in his role as
CEO, while TeamBuy President Edward Yao and Dealfind CFO and COO Jason
Redman continue in their respective roles.
The merger also includes MenuPalace.com, the popular restaurant and hospitality guide, which prior to the deal
had operated alongside Dealfind.com as a North American hub for finding
the best restaurants and ordering online.
The combined company plans to increase both the amount of deals and
verticals available on the site significantly during 2013, further
cementing its status as the go-to site for everyday deals across all
major shopping categories. Moving forward, the company also plans to
bolster areas including customer service, to further improve response
times, and logistics, to significantly reduce shipping times. Halazon
also says that deal personalization and mobile experience are both
areas in which the company plans to stand outto ensure better
relevance and overall user experience.
Prior to the merger, the two companies enjoyed robust sales, achieving a
combined $7M in gross sales in their last full month apart. Various
investors including Insight Venture Partners, ru-Net, Georgian Partners
and Ontario Venture Capital Fund, back the merged company.
"Our long-term focus is locked onto re-defining the Canadian e-commerce
landscape at-large, connecting millions of members and thousands of
merchants in new and exciting ways. This is a match I believe the
industry has been waiting on for some time and we couldn't be more
pleased," adds Halazon.
Canada's first deal-a-day website, TeamBuy.ca was launched in Toronto in 2009 and appeared on popular reality TV
Show, Dragons' Den shortly after. Over the last three years, the
company has refined its group buying business model to emerge as a
broader flash sales e-commerce destination that offers deals across
multiple categories including Restaurants, Healthy & Beauty,
Electronics, Home, Fashion, Local and Luxury goods and services.
Considered a trusted city guide that introduces it's millions of
members to the finest that their city has to offer, TeamBuy.ca is
available across Canada. Since 2009, TeamBuy.ca has grown rapidly,
cultivating relationships with thousands of diverse merchant partners,
expanding to offer mobile and Facebook e-commerce apps and generating
over hundreds of millions in savings for their members.
The largest Canadian-based e-retailer with a daily deal format, Dealfind
offers consumers unbeatable prices up to 90% off on products and
services ranging from restaurants, spas and travel, to jewelry,
electronics, cosmetics, housewares and more. As a local marketing
platform, Dealfind provides brands, distributors and retailers
throughout Canada and the United States the opportunity to
cost-effectively increase exposure and gain valuable new customers. See
www.dealfind.com for more information.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/January2013/15/c5766.html
For further information and interview requests, please contact: Sharon Hayward / PM
Rendon DDB Public Relations 416.972.5844 / 416.972.7784 email@example.com
[ InfoTech Spotlight's Homepage ]