and Set to be Acquired after Filing for Bankruptcy Protection

TeamBuy and DealFind

I found a couple interesting articles that sheds some light into why and recently filed for bankruptcy protection:

A motion has been filed by the legal representatives of Couch Commerce Inc., the group that owns TeamBuy Inc., Corp., and 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 in Canada.