Half Off Depot Acquires CrowdSavings For $6.4 Million
Half Off Depot is acquiring CrowdSavings for $6.4 million in cash and stock. The two companies will be rebranded as nCrowd. nCrowd will be headquartered in Atlanta. Between the two companies, they will still have a marketshare than Groupon and LivingSocial.
The two companies represent a total of 19 acquisitions combined and represents over 2 million consumer members nationwide. “Since inception, our vision has been to help local merchants attract and retain great customers,” stated nCrowd CEO Brian Conley, “the joining of CrowdSavings.com to Half Off Depot on the AIM (Automated Internet Marketing) platform brings this vision much closer to reality.”
Half Off Depot has been able to keep running their business by expanding beyond daily deals to social commerce. This means that they helped merchants run Facebook contests and improve customer retention.