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BuyWithMe is on a buying spree, and NYC-based Scoop St. is the latest to get snapped up
Once-troubled daily deals company BuyWithMe is not joking around in its efforts to get its business back on track as the company makes its fifth acquisition this year alone. On Tuesday, BuyWithMe announced its acquisition of New York City-based daily deals company Scoop St., which, like BuyWithMe, was founded in 2009.
With an arsenal of 50,000 subscribers, Scoop St. has done pretty well for itself, considering it focuses exclusively on New York City deals. Founders David Ambrose and Justin Tsang say they were inspired by the Chinese concept of tuangou, the act of gathering a large number of people together to collectively haggle for lower prices from local merchants, and its growing momentum in the online world. Taking that concept to the streets of Manhattan, Scoop St. was born. Scoop St. members will now be able to get their NYC deals from BuyWithMe’s New York page.
The terms of the deal were not disclosed, but Scoop St.’s eight-person team will be joining the ranks of BuyWithMe, which is headquartered in New York City.
Among BuyWithMe’s other recent acquisitions is LocalTwist, a California-based daily deals site, which BuyWithMe snapped up in March. And last month, BuyWithMe acquired loyalty services provider Edhance.
BuyWithMe seems to have gotten a new lease on life since former CEO Cheryl Rosner stepped down in December and Jim Crowley stepped in to take the helm. Particularly noteworthy is the fact that BuyWithMe’s buying spree appears to be focused exclusively on U.S.-based daily deals companies, whereas competitors Groupon and LivingSocial are turning their attentions overseas to expand their international footprints. It sounds like after flatlining in 2010, the BuyWithMe management team realized they needed to firm up the company’s U.S. presence before they tried to take matters abroad.
“As the leading merchant-centric daily deal site, BuyWithMe’s focus on creating long-term success for merchants aligns perfectly with the mission of Scoop St. since its founding two years ago,” said Jim Crowley, in a statement. “With our focus on top urban centers, today’s acquisition helps us extend the BuyWithMe brand in New York City and expands our business to a larger group of quality merchants and consumers.”
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