Half Off Depot, a four-year-old, Atlanta-based daily deal company similar to Groupon, said Monday it will buy competitor CrowdSavings and will rename itself nCrowd.
The new company will have more than 2 million consumer members across the U.S. who are signed up to receive emailed discounts posted on the online coupon site. This helps local merchants who participate in the program to acquire new customers online. The merchants and the site split revenue from sales.
Deals are for products such as restaurant meals, entertainment admissions and personal care services.
The new company, which remains in Atlanta and has about 70 employees, will continue to offer deals at halfoffdepot.com and at CrowdSavings.com.
While still relatively small compared to Groupon and another top competitor, LivingSocial, nCrowd now is the third largest company in the local offers market, said nCrowd CEO Brian Conley. He said the deal, “positions us well for future growth and further acquisitions.”
The deal was valued at $6.4 million in Half Off Depot stock and cash, according to All Things Digital, an online publication.
About the Author
The Latest
Featured
