TeamBuy is expanding into restaurant reservations. Canada’s largest online deals destination announced today it has acquired DiningDateNight, a provider of reservations at the best restaurants based in Toronto. Terms of the deal were not disclosed. TeamBuy has been making a splash lately via M&A, earlier this year they merged with Toronto-based Dealfind.
More than 100 restaurants have used DiningDateNight’s unique platform for yield management. After booking a reservation on DiningDateNight.com and visiting the restaurant, diners enjoy a 30% discount applied automatically to their bill. Merchants enjoy incremental revenue for tables that would otherwise be empty, and consumers are incentivized by the ‘built-in’ discount and roster of high-end eateries to explore.
This acquisition fits in well with the Company’s broader Restaurant Commerce strategy that includes Tasteaway.ca, a newly launched Takeout & Delivery Service, and MenuPalace.com, a leading Restaurant and Hospitality Guide.
“Over the past three years, TeamBuy has formed thousands of long term relationships with restaurants across North America. The addition of DiningDateNight to our portfolio will soon enable our restaurant partners to combine reservations and deals under one solution. Consumers will also be able to leverage a new discrete way to save while exploring new restaurants” says Ghassan Halazon, CEO of TeamBuy.ca
Canada’s first deal-a-day website, TeamBuy.ca was launched in Toronto in 2009 and appeared on popular reality TV Show, Dragons’ Den shortly after. Over the last three and a half years, the company has refined its group buying business model to emerge as a broader flash sales e-commerce destination that offers deals across multiple categories including Restaurants, Healthy & Beauty, Electronics, Home, Fashion, Local and Luxury goods and general services. TeamBuy merged with Dealfind.com in January 2013, forming the country’s largest deal website with 3 million members across Canada and the US.