What are some facts about DealFind in Canada?


Quick Answer

Dealfind was a Canadian coupon website with a business model that consisted of getting local and national businesses to offer discounted products or coupons in exchange for increased online customer traffic. It operated under the Couch Commerce Inc. umbrella, but was purchased by Atlanta-based company nCrowd Inc. after Dealfind's parent company declared bankruptcy in 2014.

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Full Answer

Dealfind was founded by Gary Lipovetski in 2010 and briefly experienced success in the online coupon marketplace by using an affiliate-based model. Dealfind was similar in structure to companies such as Groupon or Teambuy, and, just like those companies, it was only able to expand by securing investments from Internet investors. In 2011, the company received a $31 million investment from three leading Canadian and international venture capitalists.

In January 2013, Dealfind executives announced a merger with industry competitor Teambuy after a sharp decline in sales. The union only lasted a year and a half before both companies declared bankruptcy and began financial restructuring under the Companies’ Creditors Arrangement Act. During Couch Commerce's bankruptcy proceedings, it was reported that Dealfind owed its creditors almost $10.9 million. As of 2015, the company no longer exists and the former websites for Teambuy and Dealfind now automatically reroute to the nCrowd website.

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