Just north of the border, a huge merger formed Canada’s largest online deals destination on Tuesday. TeamBuy.ca and Dealfind.com announced their merger, which it’s touting as “the largest ‘daily deal’ merger in North American history.” The newly formed company will have 3.5 million members, including 1 million in the U.S. “From a consolidation perspective, this merger gives us a rock solid foundation where one in every 10 Canadians is signed up to our service,” said Ghassan Halazon, CEO of TeamBuy.
The two sites will continue operating separately in the early part of 2013, though they will eventually be integrated under a single name and with a new website. MenuPalace.com, which operated alongside Dealfind, will be part of the deal. In their last full month before the merger, TeamBuy and Dealfind combined to earn $7 million in gross sales. The press release announcing the merger noted both companies’ expansions beyond daily deals to flash sales and e-commerce. (CNW)
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