Teambuy.ca and Dealfind.com Announce Merger

Posted by Techvibes NewsDesk

Earlier this month Techvibes reported that the merger of TeamBuy.ca and Dealfind.com was imminent.

Today the companies announced their merger, creating Canada’s largest online deals destination.

According to their joint press release, the transaction is "the largest ‘daily deal’ merger in North American history".

The transaction 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 categories.

“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.

Company:
Dealfind
Website:
http://www.dealfind.com
Location:
Toronto, Ontario, Canada

Dealfind is a branch of MenuPalace.com which started in 1999. Since May, 2010 this online group buying website has sold over 750,000 vouchers, and has saved consumers over $112,000,000. The 72nd most visited site in Canada, the company is also listed as the 626th most visited site in the United States* and the 2,734th most visited site in the world*. Dealfind employs 130 staff and can credit its growing success to... more

Company:
TeamBuy.ca
Website:
http://www.teambuy.ca
Location:
Toronto, Ontario, Canada

TeamBuy.ca 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 target number of... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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