TeamBuy.ca and DealFind.com: Set to be Acquired after Filing for Bankruptcy Protection
I found a couple interesting articles that sheds some light into why TeamBuy.ca and DealFind.com recently filed for bankruptcy protection:
- http://www.itbusiness.ca/news/teambuy-and-dealfind-near-bailout-acquisition-while-merchants-seek-answers/51085
- http://www.canadiandealsassociation.com/teambuy-files-bankruptcy-protection-set-to-be-acquired/
A motion has been filed by the legal representatives of Couch Commerce Inc., the group that owns TeamBuy Inc., Dealfind.com Corp., and MenuPalace.com Corp., to approve its sale to nCrowd Commerce Inc. on Monday, September 22, 2014… nCrowd is a company based out of US that has been buying up distressed deal sites since 2011 or so. Other distressed deal providers that have been acquired by nCrowd include Tippr, Saveology, Spreebird, to name just a few. The acquisition of Teambuy/Dealfind would enable nCrowd to enter the Canadian market in a leadership position.
Hopefully this is good news and it’ll mean they’ll be back soon. Teambuy is the largest Canadian based Daily Deal promotions company with over 3.5 million members. TeamBuy is the second largest overall behind Groupon in Canada.