[introduction] the two companies had already completed 19 acquisitions, a large part of the United States to occupy the network group purchase market share of mergers and acquisitions.
technology news (Ming Xuan) February 12th Beijing time news, according to foreign media reports, sources said Monday, two days before the little-known group purchase website were merged. Half Off Depot will spend $6 million 400 thousand in cash and stock acquisition of another group buying site CrowdSavings.
is reported that after the completion of the transaction, the two groups will be renamed the site nCrowd, the headquarters will be set up in the suburbs of Atlanta. Although the new nCrowd is still unable to match the size of the Groupon or LivingSocial, but there are still two noteworthy aspects of the transaction. First of all, the two companies had already completed 19 acquisitions, accounting for a large portion of the United States to buy a large network of mergers and acquisitions market share. Secondly, in the network group purchase industry into a downturn, to complete this transaction is not easy.
in the past year, despite the challenges of thousands of innovative companies, Groupon has become the market leader in the market leader deserved. Groupon persistence, to prove that you want to copy the network buy business is very simple, but want to achieve the scale of great difficulty. Even Groupon, is also struggling to support.
for those who still live in the buy site, looking for a buyer has become increasingly difficult. In 2011, for example, a total of 63 group buying sites were acquired in the United States, but in the year of 2012, the number had fallen to 28. So far this year, only one buy site was acquired. In these transactions, the most well-known is the end of last year, JP Morgan spent $35 million acquisition of Bloomspot.
even Half Off Depot acquisition, the scale of the new company in the United States to buy the market is still very limited CrowdSavings. The new company, nCrowd will have 20 million registered users in the 17 markets to provide e-mail service. The total number of employees in the new company is 70.
sources said, Half Off Depot spent about 6 million 500 thousand shares and $1 million 500 thousand in cash to acquire CrowdSavings. Half Off, chief executive of Depot, is the new company nCrowd CEO Blaine · (Brian Conley); Conley said, "we will compete with Groupon, but we have been used to compete with the 600 group purchase website. Compared with the past, there is not much left to buy the site." Conley says the business of social business into.