Two Canadian daily deal heavy hitters, DealFind and Teambuy.ca, may be merging according to the Canadian Deals Association, into the largest daily deal site in the country.
Teambuy.ca is a unique Canadian “team” daily deal site that started in 2009 as well. Visitors may browse through a number of handpicked deals, and as long as a minimum amount of people purchase the deal, everyone will receive it. Each deal, however, is not successful unless the minimum amount of buyers purchases the deal. If the minimum amount is not reach, nobody is charged.
In a 2010 interview with ITBusiness.ca, TeamBuy’s president Edward Yao said TeamBuy.ca wasn’t looking for an exit, but didn’t rule out being acquired either.
“It’s an opportunity to do something on a grander scale,” he said at the time. “The smaller guys coming into this market may be over their head.”
Dealfind, which was founded in 2009, offers deals in cities around North America. Noted for their unparalleled customer service and a 30-day refund policy, this online group buying website has sold over 750,000 vouchers, and has saved consumers over $112,000,000. The site ranks high on the popularity scale, being tallied as the 72 most visited site in Canada.
“We have gotten news from our industry sources that Dealfind and Teambuy, two of Canada’s leading deal providers, have just or are about to merge,” the CDA wrote in a recent release. “This is big news indeed and comes five months after the other largest deal in Canada in this industry where Wagjag and Tuango got together to buy the assets of Dealoftheday from the Yellow Pages.”
Neither daily deal site has confirmed the report by the CDA to be true or not, but the CDA stands by their sources, claiming they “are usually correct.”
The Canadian Deal Association also reported some insight into the deal, signifying maybe a new brand name and “at least” one or members of the cofounding staff may exit from the company during the merger.