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. Other distressed deal providers that have been acquired by nCrowd include Tippr, Saveology, Spreebird, etc… 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 fix all their issues and be back soon. Teambuy is Canada’s largest based daily deals site with over 3.5 million members and is the second largest overall behind Groupon.com in Canada.
Hello,
Thanks for providing this information. It still bothers me that those customers who have vouchers still outstanding aren’t able to use it because merchants are not accepting it.
What does this mean? Will after the purchase of the company, we will be able to use our vouchers? What if it’s past the expiry date due to all this?
Shouldn’t they refund us with teambuy bucks so that we can use it on their site? I don’t understand what kind of business does something like this….
I really hope no one supports team buy again!