TeamBuy raises $5 Million and settles down with Kids & Baby and Home categories

Toronto's announced this morning that they have closed a $5 Million financing round from existing shareholders and will be using the funding to expand newly launched Kids & Baby and Home categories.

In July of 2011 TeamBuy raised $7 Million from an undisclosed institutional investor.

“We’ve re-imagined the daily deal business model to fit a customer who is demanding more comprehensive and customized shopping,” says Ghassan Halazon, CEO, “Our current vertical offerings already account for nearly 35 per cent of our business and with the launch of the new Kids & Baby and Home sections on TeamBuy, we anticipate that this will rise to at least half of our overall product mix in the year ahead.”

Toronto, Ontario, Canada is a Canadian-based team-buying website that launched in Toronto in October 2009. The site secures impressive savings by using team-buying power, giving users the benefit of buying in bulk without actually having to. Each feature depends on a minimum number of buyers signing up; if the Buy is successful, a Team Ticket is sent via email within 24 hours to those who purchased. If the... more

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