Just got word that Teambuy is continuing its expansion, this time into the Restaurant reservations business. They just announced their acquisition of DiningDatenight. This is a strong move by Teambuy given the growth of the Restaurant sector and the ever present need for consumers to want to go to Restaurants. Teambuy already has tremendous experience in working withing the restaurant sector. Their Teambuy Local offers service promote plenty of Restaurant offers, their merger of Dealfind brought with it the Menupalace restaurant directory and they launched a Restaurant delivery service a while back called Tasteaway.
Teambuy’s current acquisition of Dining Date Night follows a similar acquisition pattern by Groupon later year when they purchased popular Restaurant reservation service called Savored. Both DiningDateNight, Savored and a bunch of other Restaurant reservation services across North America are offering diners 30-40% their favorite restraurants simply for making the reservation through their system. This works very well in cities where it is hard to get a reservation like New York City, San Francisco, LA, Chicago and in some areas Toronto. It’s Reservations with a Deal!. Competition to Opentable? You bet.
Here is the full Press Release from Teambuy.
TeamBuy.ca Acquires DiningDateNight to expand into Restaurant Reservations
Acquisition supplements Restaurant Deals, Take-Out & Delivery, and Hospitality Guide Businesses
TORONTO – Canada’s largest online deals destination TeamBuy/Dealfind (http://www.teambuy.ca) announced today it has acquired DiningDateNight (http://www.diningdatenight.com), a provider of reservations at the best restaurants based in Toronto. Terms of the deal were not disclosed.
More than 100 restaurants have used DiningDateNight’s unique platform for yield management. After booking a reservation on DiningDateNight.com and visiting the restaurant, diners enjoy a 30% discount applied automatically to their bill. Merchants enjoy incremental revenue for tables that would otherwise be empty, and consumers are incentivized by the ‘built-in’ discount and roster of high-end eateries to explore.
This acquisition fits in well with the Company’s broader Restaurant Commerce strategy that includes Tasteaway.ca, a newly launched Takeout & Delivery Service, and MenuPalace.com, a leading Restaurant and Hospitality Guide.
“Over the past three years, TeamBuy has formed thousands of long term relationships with restaurants across North America. The addition of DiningDateNight to our portfolio will soon enable our restaurant partners to combine reservations and deals under one solution. Consumers will also be able to leverage a new discrete way to save while exploring new restaurants” says Ghassan Halazon, CEO of TeamBuy.ca
Canada’s first deal-a-day website, TeamBuy.ca was launched in Toronto in 2009 and appeared on popular reality TV Show, Dragons’ Den shortly after. Over the last three and a half years, the company has refined its group buying business model to emerge as a broader flash sales e-commerce destination that offers deals across multiple categories including Restaurants, Healthy & Beauty, Electronics, Home, Fashion, Local and Luxury goods and general services. TeamBuy merged with Dealfind.com in January 2013, forming the country’s largest deal website with 3 million members across Canada and the US.
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