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BuyWithMe Buys Scoop St.

In daily-deal land, BuyWithMe just acquired New York City-focused deal site Scoop St. Acquisitions in the space are heating up and are happening nearly every day, as smaller players struggle to stay afloat, reports All Things Digital. Indeed, a recent report found that daily deal acquisitions were up 700% year-over-year, and this marks BuyWithMe's fifth buy of the year.

Given the big dip in market share between the leaders and the rest of the masses, the transactions are usually small and consist of players looking to enter new markets. Translation: While terms of the deal were not disclosed, it was likely modest. Scoop St. co-founder David Ambrose tells All Things D that the sale was an all-cash offer, and that investors -- who put $1.2 million into the start-up -- saw a "good return."

BuyWithMe was already operating in New York City, but will gain Scoop St.'s eight employees and its subscriber list of 50,000. Scoop St. had also developed other features, such as "Experiences," which offered access to special events, loyalty programs and mobile applications.



Read the whole story at All Things D »

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